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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, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Planning Commission, India
- Australian Coal Association
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
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