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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, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Planning Commission, India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
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