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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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Thursday, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Deloitte Consulting - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
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