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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, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
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