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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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Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
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