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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, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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Showing 5426 to 5430 news of total 6871 |
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- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- The University of Queensland
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
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