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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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Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
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