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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- The University of Queensland
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Australian Coal Association
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
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