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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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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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