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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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Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Australian Coal Association
- Sical Logistics Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- The University of Queensland
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
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