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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, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
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