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Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic Dry Index, is ending yet another week of violent falls, with yesterday’s session bringing the market down to just 1,186 points, losing an additional 3.89% on a daily basis.
It’s pretty obvious by now that the Australian floods saga, coupled with a neverending overcapacity of tonnage is “drowning” freight rates. At this rate, some owners have already began to consider even the solution of layup of some of their vessels, a phenomenon which we haven’t seen since the 2008 and early 2009 global financial meltdown, which brought world trade to a major halt.
Taking a look at the panamax market for instance comes to show the problem. According to Fearnley’s latest weekly report “the Panamax market is heading due South with increasing speed as the Atlantic market definitely has lost its strength both for rounds and fronthaul.
The increasing amount of ballasters appearing from the F.East both for ECSA and for USG are not met by many fresh minerals or grain orders. TA rounds descending towards the 10k/day level and trips Feast approaching 20k. In the Pacific the atmosphere remains weak and rates are hovering between 7k and 9k/day. The Charterers are comfortably in the driving seat holding back their fixing, but the market got a further negative tone as Korea Line were applying for court protection earlier this week. Adding an anticipated slow down before the Chinese New Year and a slowly but steady sliding FFA market the sentiment is clearly beyond bearish”, said the shipbroker.
Similarly, on the Capesize front it mentioned that “continuing full- or part-absence by major Brazilian and Australian miners, combined with the long-awaited collapse of the first sizeable operator, is adding desperation and increased uncertainty to an already miserable segment. The bottom seems to be reached on the WAust/China trade, where prevailing usd 6.65-6.75 pmt is not by far enough to cover operating expenses. With numbers of ballasters on the rise, the Brazil/China fronthaul levels become under increased pressure - down 10% w-o-w to some usd 20k. Short-term outlook remains grim as Chinese New Year celebrations come close - although a mere few brave operators dare buck the trend and book tonnage for short/medium period. 180kdwt/built 2005 done for 4-6 months at usd 16250, 174kdwt/built 2007 done for 5-7 months at usd 18k - both basis spot FEast delivery”, Fearnley’s concluded.
Meanwhile, during the past few days, a series of analysts have given out their estimates for the course of dry bulk freight rates. Dahlman Rose is among the more optimistic one, saying that Capesize earnings will average $35,000 during 2011, up from last year’s $31,000/day. As for other smaller ship types, the group’s analysts believe that they will receive downward pressure. For instance average daily earnings for Panamaxes (and Kamsarmaxes for that matter) will fall to $22,000 from $24,125 during 2010. For the Supramaxes it expects rates to be at $20,000, down from last year’s $20,875, while for the Handy sector it places average rates at $15,000, from $17,675 during 2010.
As for estimates given out by Cantor Fitzerald, Capes are expected to average $23,000, from last year’s $26,500, while Panamaxes will average $19,000 from $21,000. As for the Handymax sector, it’s expected at $16,500 for 2011 (down from $18,000). The analyst gave out predictions for 2012 as well, saying that Capesize earnings will drop even further to average $22,000, while Panamaxes will earn $17,200, Handymaxes $15,250 and Handysizes are set out to average $13,000, down from $14,000 which is the expected 2011 average daily rate.
In yet another prediction, this time from Baltic Exchange itself, Capes are expected to average $26,629 this year and $21,125 in 2012, Panamaxes are set for $20,555 in 2011 and $16,210 in 2012, while Handysize are looking for $12,760 this year and $11,164 next year.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
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