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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
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- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
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