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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, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Australian Coal Association
- The University of Queensland
- Anglo American - United Kingdom
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
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