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