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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
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