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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, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
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Showing 5426 to 5430 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
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