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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, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
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- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Minerals Council of Australia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
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