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