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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 $11,164 next year.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
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