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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, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
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- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Australian Coal Association
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
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