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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, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
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