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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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Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
Monday, 23 May 11
BRMS IS TO START PRODUCTION FROM DAIRI PRIMA MINERALS
COALspot.com - The Presidential Decree No. 28 Year 2011 that allows conditional underground mining in the protected forest areas was issued on 19th ...
Sunday, 22 May 11
INDONESIA - INDIA IS LIKELY TO BE STEADY NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market remained soft beginning of the week, however second half of the week was firm with BDI up by 3.29 pct and closed a ...
Saturday, 21 May 11
OWNERS PREFER TO DO INDO COAL OR NICKEL ORE TO CHINA RATHER THAN GOING TO INDIA - FEARNBULK
Handy
The Atlantic is marked by volatility and very positional, nevertheless USG,NCSA, Cont remain strong thanks to the petcoke, grains and scrap ...
Friday, 20 May 11
GOVT TOLD TO LIMIT COAL, GAS EXPORTS - THE JAKARTA POST
The Jakarta Post, a leading news paper in Indonesia, reported that, Amid soaring global oil prices, the government should limit exports of coal and ...
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- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Planning Commission, India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
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- The University of Queensland
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
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