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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
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- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
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- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
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- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
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