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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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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Planning Commission, India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
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