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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
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