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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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Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
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