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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, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
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