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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, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
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- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Australian Coal Association
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Planning Commission, India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
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