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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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Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
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Showing 5511 to 5515 news of total 6871 |
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- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
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