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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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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- CNBM International Corporation - China
- MS Steel International - UAE
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
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