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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 $11,164 next year.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
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