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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, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
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- Cement Manufacturers Association - India
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- Goldman Sachs - Singapore
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- Parry Sugars Refinery, India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
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- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
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- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
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- India Bulls Power Limited - India
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- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
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- Videocon Industries ltd - India
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- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
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- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
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- Bangladesh Power Developement Board
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- The University of Queensland
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- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
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- Central Java Power - Indonesia
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- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
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- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
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- White Energy Company Limited
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- VISA Power Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
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- Merrill Lynch Commodities Europe
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- Malabar Cements Ltd - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
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- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
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- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
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- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
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