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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, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
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- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
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