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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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Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
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