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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, 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 ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Posco Energy - South Korea
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
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