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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, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
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- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
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