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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, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
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- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- The University of Queensland
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
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