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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, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
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