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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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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
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