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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Gujarat Sidhee Cement - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- White Energy Company Limited
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
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