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