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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, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
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- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
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