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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
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