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