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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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- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
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