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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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Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
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