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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, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
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- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
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