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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, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
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- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
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- Kaltim Prima Coal - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Australian Coal Association
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
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