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