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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, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
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