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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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- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- PTC India Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
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