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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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Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
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- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- The University of Queensland
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
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