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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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Thursday, 19 May 11
INDONESIAN COAL EXPORTS DROP 7.98 PERCENT IN APRIL
COALspot.com - Indonesian coal exports dropped to 2.168 million tons in April, and up 7.13 percent on the year and 7.98 percent below March, a ...
Thursday, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
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- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Australian Coal Association
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
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