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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
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