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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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Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
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