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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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Saturday, 07 May 11
BERAU INKS DEALS WITH CHINESE FIRMS AS COAL WEATHERS COMMODITIES STORM - THE JAKARTA GLOBE
The Jakarta Globe reported that, Berau Coal, one of the country’s largest coal miners, has signed sales contracts with two Chinese companies a ...
Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
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- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Australian Coal Association
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
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