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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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Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Planning Commission, India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
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