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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, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
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