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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, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Larsen & Toubro Limited - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Minerals Council of Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
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