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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, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- London Commodity Brokers - England
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
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