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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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Monday, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
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- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Wilmar Investment Holdings
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