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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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Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
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- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- The University of Queensland
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
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