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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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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
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