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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Planning Commission, India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
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