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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, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- White Energy Company Limited
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
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