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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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Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
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