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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, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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Showing 51 to 55 news of total 6871 |
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- Siam City Cement - Thailand
- Australian Coal Association
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
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