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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 12 August 10
ETA STAR INDIA PUTS FORWARD COAL MINING PLAN FOR TETE, MOZAMBIQUE, IN 2011
ETA Star India Projects Pvt, which is carrying out coal prospecting and surveying work in the Moatize coal region, in Tete province, will present it ...
Thursday, 12 August 10
SUPRAS WERE FIXED IN THE MID/HIGH TEENS FOR INDO-INDIA TRIPS - FEARNBULK
Handy
Activity is gradually picking up in the Atlantic with more enquiries seen for short period tonnage for the end of August. With the grain sea ...
Thursday, 12 August 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 94.86 FOR AUGUST 2010 SUPPLIES
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Wednesday, 11 August 10
BRAZILIAN GIANT VALE LOOKING TO BOOST ITS COAL OUTPUT
BRAZILIAN mining giant Vale is not content with being the world's largest iron ore miner. The miner is banking on ambitious growth plans to see it ...
Wednesday, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
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- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Australian Coal Association
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- The University of Queensland
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
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