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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
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