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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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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- London Commodity Brokers - England
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
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