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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, 19 August 10
INDONESIA EXPORTED 5.93 MLN TON OF COAL TO CHINA AND 3.52 MLN TONS TO INDIA IN JULY
COALspot.com: Indonesia shipped 3.52 million tones of thermal coal to India in July, fell 25.39 percent compared to June's exports of 4.71 million ...
Thursday, 19 August 10
WBPDCL INDIA LAUNCHES SPOT COAL TENDER
COALspot.com: The West Bengal Power Development Corporation Limited (WBPDCL ), A Govt. of West Bengal Enterprise, has launched spot contract tender ...
Thursday, 19 August 10
PANAMAX BACKED BY A STRONGER SHORT PERIOD MARKET AND SUPPORTED BY SOME FRESH REQUIREMENTS - FEARNBULK
Handy
The events of this week have confirmed our assessment of last week i.e. activity gradually picked up in the Atlantic with more enquiry seen ...
Thursday, 19 August 10
CSC TO SHIP COAL FOR NOROCHCHOLAI POWER PLANT
Daily Mirror reported that, coal for the Norochcholai Power Plant will be shipped to the country by the Ceylon Shipping Corporation (CSC) officials ...
Wednesday, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Thai Mozambique Logistica
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