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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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Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
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