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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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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- VISA Power Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
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