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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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Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
Monday, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
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- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Australian Coal Association
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
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