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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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Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
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- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- White Energy Company Limited
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
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