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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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Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
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Showing 5511 to 5515 news of total 6871 |
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- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
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