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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, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Bangladesh Power Developement Board
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
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