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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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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Planning Commission, India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- The University of Queensland
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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