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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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Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
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Showing 5511 to 5515 news of total 6871 |
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- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Planning Commission, India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- White Energy Company Limited
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