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