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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- MS Steel International - UAE
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