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