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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, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
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