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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, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- White Energy Company Limited
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- The University of Queensland
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
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