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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, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
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- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Aditya Birla Group - India
- The University of Queensland
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Australian Coal Association
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
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