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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, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Central Java Power - Indonesia
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- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
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- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
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- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
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- Economic Council, Georgia
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- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Planning Commission, India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- MS Steel International - UAE
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
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