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