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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Mercuria Energy - Indonesia
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