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Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were higher, with the Panamax Index gaining the most at 1,145 points, while the Capesize one was also on a high. The only exception was the Handysize market, which retreated by four points yesterday. Still, the index is more than 30% lower than the start of the year, with capesize average spot charter earnings showing a fall of more than 80% by reaching levels of $3,988/day, from about $24,000/day at the beginning of the year. On mid June, capesize average spot earnings fell at their lowest point since December 2008, of less than $3,500/day, with panamax vessels showing softness at levels of less than $8,000/day from more than $13,000/day at the beginning of May.
In recent comments, Golden Destiny’s analysts noted that “during the first days of July, BDI continues its upward trend with capesize average spot earnings surpassing the barrier of $5,000/day and panamax earnings climbing to more than $8,000/day. Smaller vessel categories, supramax and handysize units are showing firmness at levels of more than $13,000/day and $10,000/day respectively. The positive performance of smaller vessel categories has been supported by increased movement of grains and a number of minor bulk cargoes, while the fragile Chinese iron ore and coal demand impaired the demand for capesize and panamax tonnage. Chinese demand for imported iron ore cargo posed weakness in June due to a tremendous decline in steel production and a large amount of iron ore stockpiled at Chinese ports, despite the rise of Chinese iron ore imports in the first five months of the year to around 300.1mt, up 9% year-on-year” they said.
Still, as Maria Bertzeletou noted in the latest weekly report from Golden Destiny, the prospects for the second half of the year aren’t yet promising in all for the dry bulk market. “Chinese steel production has not yet recovered, port stockpiles are elevated, above 96 million tons of iron ore and 8.7 million tons of coal, while Chinese iron ore demand is expected to show not significant strength in the coming weeks. Chinese demand for imported thermal coal is also poised to remain low on the short term, as power plant and coal stockpiles remain high and hydropower production continues to be on rise. However, peak summer electricity demand season is underway in China and a rebound in thermal coal fixture volume is likely for the second half of the year with stronger panamax earnings. Top grade iron ore price shows sings of weakness with the benchmark 62% iron ore content price falling to $135/tonne as Chinese steelmakers have reduced their purchases from declining steel production that has hit the iron ore supply chain” she said.
She also added that “despite the recent negative picture of capesize ton mille demand, there is still faith in the segment as Chinese government’s stimulus measures in the industrial sector may bring firmer iron ore demand, but it seems difficult the capesize average spot earning to surpass the levels of $10,000/day as they are struggling to perform in the current vessel’s supply figures, when in December of 2011, they were floating at levels near to $30,000/day. Under the current fundamentals, shipping players prefer to move towards the scrapping of overaged large sized vessels, capesizes and panamaxes, with secondhand investments being on the frontline as more preferable type of investment than the construction of new units.
Secondhand asset prices have plunged from the first half of 2011, especially in the large sized vessel segments, capesize and panamax, with the BDI triggering further falls during the second half of the year. According to the Baltic Exchange’s Sale and Purchase Assessments, the value of a 5yrs old capesize of 172,000dwt has dropped to about $33,4mil from $42,9 at the end of June 2011, while at end of June 2008 was more than $153mil. In the panamax market, the value of a 5yrs old vessel of 74,000dwt is now at near $23mil, from $30,8 at the end of June 2011, while at the end of June 2008 was more than $88mil. In the supramax segment, the value of 5yrs old vessel of 52,000dwt is now in the region of $22mil from $27,5mil at the end of June 2011, while at the end of June 2008 was at more than $75mil” she concluded.
Still, for the time being Capesizes are currently earning $7,904/day, an increase of $3,916/day from a week ago, while panamaxes are earning $9,002/day, an increase of $1,167/day. At similar week in 2011, capesizes were earning $13,995/day, while panamaxes were earning $13,471/day. Supramaxes are trading at $13,556/day, up by $411day from last week’s closing, 72% and 51% higher than capesize and panamax earnings respectively. At similar week in 2011, supramaxes were getting $13,443/day, hovering at 3.9% lower levels than capesizes versus 72% today’s higher levels. Handysizes are trading at $ 10,309/day; down $105/day from last week, when at similar week in 2011 were earning $10,422/day.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
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