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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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Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Australian Coal Association
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
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