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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- The University of Queensland
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Indogreen Group - Indonesia
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