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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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Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Australian Coal Association
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
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