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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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Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
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