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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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Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Planning Commission, India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- The University of Queensland
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
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