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