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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, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- White Energy Company Limited
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- MS Steel International - UAE
- CNBM International Corporation - China
- Australian Coal Association
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
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