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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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Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
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- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
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