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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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Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Planning Commission, India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
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