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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
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