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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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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
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