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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Australian Coal Association
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
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