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Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
 The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still standing below the psychological barrier of 1,000 points mark. The capesize segment, the main key factor, lying behind the overall positive performance of the BDI, faces tremendous supply issues with average time charter earning floating at levels below $3,500/day. During the Lehman crisis of 2008, capesize average time charter earnings have dipped to $2,318/day on the beginning of December of 2008, from the peak of $233,988/day on June 5th. The levels of 2008 belong in a forgettable past with dry bulk operators finding ways to adjust their operational results in the current weak freight market. The recent slide of bunkering costs, the record scrapping activity of this year and the low ordering activity have eased at some level the pain of the market, but the dry cargo demand is not yet at levels that could remedy the imbalance of the freight markets between vessels’ supply and demand.
Panamax have recently found some support with average time charter earning reaching levels at more than $8,000/day, but they are still below $10,000/day, when at similar period last year levels were at around $14,000-$15,000/day. The increased activity in Atlantic and new coal cargoes from Indonesia have recently lifted panamax rates by 20% from the beginning of June, but there is still great uncertainty about the long term stability of the panamax segment given the outstanding orderbook and the upcoming vessel deliveries in 2013. According to Commodore Research, for the second half of this year, the orderbook for panamax vessels stands at roughly 355 vessels, while the orderbook for capesize vessels stands at roughly 145 vessels. For 2013, the orderbook for panamax vessels stands at roughly 240 vessels, while the orderbook for capesizes at around 90 vessels.
Supramax and handysize rates are also showing firmer signs from an increased spot chartering activity with levels at more than $11,000/day for supramax units and near to $10,000/day for handysizes.
Near term prospects for the capesize market remain dark with supramax and handysize vessel categories showing a stronger resistance in the current oversupplied market. Chinese demand for imported iron ore cargo has shown weakness in June due to recent decline in steel production and a large amount of iron ore stockpiled at Chinese ports, even the rise of Chinese iron ore imports in the first five months of the year to around 300.1mt, up 9% year-on-year. There is a positive outlook on the rebound of Chinese iron ore demand in the coming month due to government’s stimulus measures in the industrial sector. Chinese demand for thermal coal remains also low, but the peak summer electricity demand is approaching with the government waiting daily electricity consumption at a record of 15.5 to 16 billion kilowatt hours this summer.
As we are near to end of the first half of 2012, the BDI has averaged below 1,000 points mark, at 940 points, compared with more than 1,300 points last year. The dry outlook is not at all optimistic as larger vessel categories, panamax and capesizes, are struggling to perform in the current vessels’ supply figures, pushing the BDI to hover below 1,000 points. The recent upward changes of the index driven mainly from the boosted performance of the panamax size bringing a euphoria that seems that will no last for a long time.
Source: Maria Bertzeletou, Hellenic Shipping
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Friday, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Economic Council, Georgia
- The University of Queensland
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
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