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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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Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
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