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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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Tuesday, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- The University of Queensland
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
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