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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, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
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- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
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- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
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- Bhatia International Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
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- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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