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