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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, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
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