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