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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, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
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- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Planning Commission, India
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
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