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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, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
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