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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Parliament of New Zealand
- Mercator Lines Limited - India
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