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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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Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- Australian Coal Association
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- PTC India Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
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