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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had passed. As it turned out yesterday, it hadn’t. The industry’s benchmark, the Baltic Dry Index lost another 3.94% to reach 1,292 points, with the Capesize segment losing 3.05%. But, it was the Panamax market that tumbled the most yesterday, by a whopping 5.08% on a daily basis.
Accroding to a report from BIMCO’s shipping analyst Peter Sand, the current weakness in the Capesize won’t go away anytime soon. “Capesize rates have defied gravity on the back of strong demand for particularly coal but also for iron ore during 2010. This has neutralized some of the downside effects from the heavy inflow of new tonnage into the market. Last year alone, the Capesize fleet grew in numbers by 200 and tonnage wise by 22% and the forecast for this year is an equally challenging supply side growth. With dry bulk demand in 2011 expected to be a little less strong than in 2010 – the freight rate outlook for the Capesize segment is a bit bleak. 20 new Capesize vessels have already joined the fleet in 2011 and with ongoing weather related disruptions not only in Australia – volumes and shipments will be too few to support a significant rate rebound over the coming months” said Sand.
In a separate note, Paris-based shipbroker Barry Rogliano Salles said that “there are some hopes for an increase in activity following the gradual resumption of coal exports in Australia. At the moment Aussie-China rates appeared to have plateaued around US$6.75. Monday saw another small drop in the BCI, while in the FFA market all periods came off with declines greatest for February and March prices”.
BIMCO’s analysis indicated that there are currently 110 Capesize vessels sitting outside the Australian east coast, something which in any other normal case, would be regarded as a healthy picture in terms of freight rates, as actual supply is recuded. “But this time around it merely spells out the trouble and indicates what’s in sight for the large vessels in 2011. Orderings of new Capesize vessels have come relatively down as only 31% of all dry bulk orderings were Capesizes last year. This compares to a relative portion of 50% in the year 2006-2009. Since Capesize freight rates fell below USD 13,000 per day the daily negative change has slowed down and Capesize rates might rest within the interval of USD 7,000-13,000 per day in coming months. As a clear illustration of how bad the situation for the Capesize vessels is, all of the smaller dry bulk segments currently obtain better freight rates than Capesizes. As per 24 January, Capesize average time charter rates were as low as USD 8,665 per day. Meanwhile Panamax earned USD 12,725 per day, Supramax USD 14,789 per day and Handysize USD 11,232 per day.
Even though selected back-haul routes have slipped into negative territory, the time charter averages have not gone that sour. In December 2008 when demand evaporated due to the letters-of-credit issues (and the overall crisis – of course) average T/C rates were as low as USD 2,316 per day. This time around demand is strong as indicated be rising commodity prices – so you should not expect rates to dig that deep” said Peter Sand.
He went on to conclude that such low freight rates are disastrous for ship owners, especially those who are trading in the spot market. According to him, ways out of this would probably be massive demolition of older tonnage, vessels being laid-up like back in the 80’es, postponements of newbuilt deliveries to an even larger extend than what we saw in 2010 and hesitation about signing new contracts for vessels.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Planning Commission, India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
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