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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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Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Planning Commission, India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
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