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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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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
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