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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, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
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