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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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Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
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