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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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Thursday, 30 December 10
DRY BULK MARKET STAYS SUBDUED AT THE END OF 2010 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dy bulk market failed to cheer ship owners across the board as the year draws to an end, thus bringing mixed feelings ahead of 2011. On one hand ...
Thursday, 30 December 10
KANGAROO RESOURCES BUYS INDONESIAN COAL COMPANY
Australian-listed Kangaroo Resources Ltd. said Wednesday it will buy 99% of the Pakar thermal coal project in East Kalimantan, for A$277 million thr ...
Wednesday, 29 December 10
WEATHER IMPACTS RIO TINTO COAL AUSTRALIAS QUEENSLAND OPERATIONS
Press Release - As a result of severe monsoonal rain in central and northern Queensland, force majeure has been declared on coal sales contracts fro ...
Monday, 27 December 10
ANALYSIS: CHINA'S COAL PRODUCTION MISMATCHED WITH DOMESTIC DEMAND
As reported by iStock Analyst, China's coal market has been trapped in a strange cycle. Large coal production bases are facing overcapacity, while ...
Monday, 27 December 10
HUNT FOR OVERSEAS COAL ASSETS TO INTENSIFY - FINANCIAL EXPRESS
Financial Express reported that, With the Indian economy back on the track after the slowdown, merger and acquisition (M&A) activities in the re ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
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- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
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- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Minerals Council of Australia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Australian Coal Association
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
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