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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, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
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- Banpu Public Company Limited - Thailand
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- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
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- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- GMR Energy Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
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