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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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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- VISA Power Limited - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- The University of Queensland
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
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