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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, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With r ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
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