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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Australian Coal Association
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
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