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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, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
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