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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
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