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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Parliament of New Zealand
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Australian Coal Association
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
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