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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Planning Commission, India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
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