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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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Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Australian Coal Association
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- The University of Queensland
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
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