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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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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
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