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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, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
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