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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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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
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