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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, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
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- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Planning Commission, India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
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