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Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
 With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bottom has almost been reached. The combination of devastating floods in Queensland, the richest coal producing province of Australia and in fact globally and the looming closure of China’s factories for the celebration of the new Lunar Year, have contributed to the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) now being at 1,064 points, losing 1.64% after yesterday’s session. Once again, it was the Supramaxes that suffered the most, losing 2.35%.
But a new report out yesterday from JP Morgan could be seen as a cheerful note, since it suggested that the catastrophic dry bulk market is now bottoming out. “We believe that freight rates are bottoming out,” JP Morgan shipping analysts wrote, predicting a rash of scrapping for ships aged 20-years-old or more. Moreover, JP Morgan analysts stressed they felt the recent collapse in the Baltic Dry Index, that sees capesizes trading for less than $7,000 a day, was more weather-related than structural. JP Morgan cited China Cosco as a buy, noting it was “the most leveraged BDI play for investors with higher risk appetite”. Pacific Basin was also cited “for investors who are more risk averse as it has covered c.50% of its revenue days this year and net cash”. MOL, U-Ming and Sincere were all deemed worth investing in too.
In its latest weekly report, shipbroker Fearnley’s said for the capesize market, that it was “another quiet week, with political disturbances affecting the oil prices. Vessels, in ballast, towards South Africa/Brazil who have already bunkered in Singapore have a competitive advantage over vessels just starting to ballast. Higher bunker prices are being reflected in present rates offered, but so far, owners have been unable to conclude on this basis. It seems as though this current price increase will be borne by the owner. With market levels below operating costs, cyclones again hitting Australia and Chinese New Year, the immediate future look bleak, with more and more owners willing to wait rather than fixing in the current climate. One period fixture has been concluded at below usd 20k per day but with delivery in the Atlantic and a profit sharing scheme” said Fearnley’s.
As for the smaller Handysize/Handymax segment which has been battered this week, it said that it is an extremely quiet market in the Atlantic, “with a lot of spot tonnage struggling to get covered. Charterers are shying away from fixing short period as they expect further misery ahead. Rates for t/a rounds in the very low teens as USG markets are the only relatively paying areas. Nevertheless the high amount of ballasting tonnage towards USG will most certainly exerce further stronger downward pressure on rates. The Continent is not active at all. Outlook: Grim. Activity remains quiet in the F.East and seems no relief for owners. Supras getting under usd 5000 bss North China dely for Indo-India and Thailand rounds. From WCI, rates remained steady around usd 15-16k and from ECI USD 12k for trip to east. Some believe Indian iron ore activity to pick up after Chinese holidays. RBCT rounds around usd 13k bss WCI. Short period rates for Supras still around USD 14k. Handymax cargoes from Red Sea to India are fixed around low-mid 20s on voyage” it said.
Regarding the Panamax market, the report mentioned that as Chinese New Year holidays began yesterday, “the activity level slowed down even further. With a cyclone approaching Australia and an already over-supply of tonnage in the Pacific, several Panamaxes were ballasting towards the USG. Approximately 60 vessels were reported sailing inbound this week. This of course put more pressure on the Atlantic basin which already struggled with its tonnage/cargo ratio. Pacific rounds fixed usd 7500 and TA´s usd 10500, fronthauls USD 19600 and backhauls USD 3400. The period market has almost vanished the last couple of weeks. Even so, some short period deals have been reported done in the region 15-15,5k” it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Wilmar Investment Holdings
- VISA Power Limited - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Australian Coal Association
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
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