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