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