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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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- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- The Treasury - Australian Government
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
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