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