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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, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
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