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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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- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Planning Commission, India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
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