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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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
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- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- The University of Queensland
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
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