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