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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
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