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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, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
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- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Romanian Commodities Exchange
- Aditya Birla Group - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
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