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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, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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