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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
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