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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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Showing 36 to 40 news of total 6871 |
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- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
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