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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, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
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- Thai Mozambique Logistica
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- The Treasury - Australian Government
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- Planning Commission, India
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- Indonesian Coal Mining Association
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- Coal and Oil Company - UAE
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- Chamber of Mines of South Africa
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- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
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- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
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- Standard Chartered Bank - UAE
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- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
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- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
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- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
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- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
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- London Commodity Brokers - England
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- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
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- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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