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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 $30k pd. USG/NCSA are active (mainly petcoke) whilst the Continent/E.Med/B.Sea lack volume and rates are under pressure. Outlook: softer. In the Pacific, quiet market due to holidays in China. For Indo-India, charterers holding on unless have spot cargo. Rates sliding now and Supras in North China are getting close to 14k for trips via Indonesia to India. Iron ore from India has been quiet on WCI but rates stable at USD 17k for trips from WCI to China and from ECI close to 16k. On Richards Bay rounds Supras now seeing around 15k basis WCI dely. Red Sea, ferts on Handymax/Supras are fixed at very mid-high 20´s pmt on voyage bss to WC India. Not too much activity on short period as market bit volatile but hear some index type vessels fixed at mid-teens” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
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