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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Australian Coal Association
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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