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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Coal and Oil Company - UAE
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
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