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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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 pass ...
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- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
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