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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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Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
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