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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, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Australian Coal Association
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- PTC India Limited - India
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