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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, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
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- Indian Oil Corporation Limited
- Aditya Birla Group - India
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- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
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- Indian Energy Exchange, India
- Parliament of New Zealand
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- Deloitte Consulting - India
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- Parry Sugars Refinery, India
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- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
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- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
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- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
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- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
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- Kohat Cement Company Ltd. - Pakistan
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- Minerals Council of Australia
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- New Zealand Coal & Carbon
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- Coal and Oil Company - UAE
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- Bayan Resources Tbk. - Indonesia
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- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
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- Romanian Commodities Exchange
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- Eastern Energy - Thailand
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- TNB Fuel Sdn Bhd - Malaysia
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- India Bulls Power Limited - India
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- PNOC Exploration Corporation - Philippines
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- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
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- Planning Commission, India
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- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
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- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
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- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
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- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
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