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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Australian Coal Association
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
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