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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, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- MS Steel International - UAE
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
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