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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, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- London Commodity Brokers - England
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
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