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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, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
...
Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
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