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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, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- The University of Queensland
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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