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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, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Straits Asia Resources Limited - Singapore
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- Billiton Holdings Pty Ltd - Australia
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- San Jose City I Power Corp, Philippines
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- Indian Energy Exchange, India
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- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
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- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
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