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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, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
Saturday, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
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- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Australian Coal Association
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- The University of Queensland
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- MS Steel International - UAE
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
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