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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
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