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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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Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
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