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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, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
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- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Planning Commission, India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Deloitte Consulting - India
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