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Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the larger ship types. Yesterday, the industry’s benchmark, the Baltic Dry Index (BDI) fell to 1,430 points, down by 2.19% on the day, with Capesizes leading the fall. The Capesize Index retreated by another 3.13 percent to just 1,674 points and as a result daily rates are again closely flirting with break-even levels. The Panamax segment also lost further ground ending the session down by 2.77% to 1,788 points, still well above the larger Capesize ships, in a market’s paradox that lately has proven to be the norm.
According to ICAP Shipping’s first quarter review of the dry bulk market, on the demand side most notable was the massive change in China’s imports of iron ore between January and February which collapsed from 68 Mt to 48 Mt and when this was combined with the 10 Mt fall in the country’s coal imports also in February the resulting 30 Mt drop exceeds anything that was seen even at the time of the freight market collapse in 2009. “Despite this string of exceptional events the freight market has responded calmly and efficiently and will no doubt continue to do so throughout the next three months” ICAP Shipping said.
Indeed, the BDI has lost over 10 percent from the start of the year, which could have been worse, given the circumstances, like the ever so increasing ship supply and the natural disasters in Australia and more recently in Japan. "At the moment the volumes out of Australia and Brazil are disappointing," said Georgi Slavov, head of dry research and structured products at ICAP Shipping, in a quote from Reuters. He went on to say that the volumes of exported (Australian) coal are still 30 to 40 percent below where they should be at this time of year. As a result, the coal price is obviously going up and therefore the Chinese are not buying -- it's a chain reaction that is hitting the market, Slavov mentioned. According to him, Japanese coal imports won’t pick up until May.
In a separate weekly report released from Fearnley’s, it said that in the Capesize market, it’s been a quiet start to the week with holidays in India and China, resulting in a wait and see attitude among owners and charters. West Australia/China rates were in the high 7s, presently usd 7.50 pmt. Of period fixtures in the east, a couple were done at usd 16k levels for 11-13 months, with profit sharing. The fronthaul activity remains inactive.
Regarding the Panamax segment, “activity remained slow in the Atlantic basin, rates still sliding downwards with limited new business and more open tonnage around. Limited trade for the Pacific, mostly due to Chinese holidays Monday and Tuesday. T/A rounds dropped to 14-14.5k this week. In the Pacific, very little reported, though some rounds done at around 14.5 level as well. Fronthaul still fairly healthy at 25k level. With grain season coming to an end, expectations for next month are rather weak. Although forward market flat to slowly down, perhaps more activity for iore export from India after release of export ban and from Brazil in 3Q will stabilize the market. Period market hardly viable this week; 2 years done at 15500 and short period even less” said the shipbroker.
As for the smaller ship types, it argued about slowly softening rates as more tonnage is accumulating in the Atlantic basin .”The trans-Atlantic round is around $15k pd with trips to the Far East at around $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Planning Commission, India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
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