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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, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Planning Commission, India
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