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