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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 30 April 11
BUKIT ASAM PROFIT HAS JUMPS 108 PERCENT IN Q1, 2011
The Indonesian state-controlled coal miner PT Bukit Asam Tbk (PTBA) reported a 108.07 percent jump in net profit during the first three months of 20 ...
Saturday, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
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- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
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