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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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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Planning Commission, India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
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