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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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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 ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
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