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