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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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Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Australian Coal Association
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
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