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