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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
Tuesday, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
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- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Marubeni Corporation - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
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