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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 $11,164 next year.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- VISA Power Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
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