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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, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- The University of Queensland
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
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