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