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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
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