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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, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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Showing 5426 to 5430 news of total 6871 |
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- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Eastern Energy - Thailand
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
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