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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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Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
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- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
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