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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
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