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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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- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
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