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Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were higher, with the Panamax Index gaining the most at 1,145 points, while the Capesize one was also on a high. The only exception was the Handysize market, which retreated by four points yesterday. Still, the index is more than 30% lower than the start of the year, with capesize average spot charter earnings showing a fall of more than 80% by reaching levels of $3,988/day, from about $24,000/day at the beginning of the year. On mid June, capesize average spot earnings fell at their lowest point since December 2008, of less than $3,500/day, with panamax vessels showing softness at levels of less than $8,000/day from more than $13,000/day at the beginning of May.
In recent comments, Golden Destiny’s analysts noted that “during the first days of July, BDI continues its upward trend with capesize average spot earnings surpassing the barrier of $5,000/day and panamax earnings climbing to more than $8,000/day. Smaller vessel categories, supramax and handysize units are showing firmness at levels of more than $13,000/day and $10,000/day respectively. The positive performance of smaller vessel categories has been supported by increased movement of grains and a number of minor bulk cargoes, while the fragile Chinese iron ore and coal demand impaired the demand for capesize and panamax tonnage. Chinese demand for imported iron ore cargo posed weakness in June due to a tremendous decline in steel production and a large amount of iron ore stockpiled at Chinese ports, despite the rise of Chinese iron ore imports in the first five months of the year to around 300.1mt, up 9% year-on-year” they said.
Still, as Maria Bertzeletou noted in the latest weekly report from Golden Destiny, the prospects for the second half of the year aren’t yet promising in all for the dry bulk market. “Chinese steel production has not yet recovered, port stockpiles are elevated, above 96 million tons of iron ore and 8.7 million tons of coal, while Chinese iron ore demand is expected to show not significant strength in the coming weeks. Chinese demand for imported thermal coal is also poised to remain low on the short term, as power plant and coal stockpiles remain high and hydropower production continues to be on rise. However, peak summer electricity demand season is underway in China and a rebound in thermal coal fixture volume is likely for the second half of the year with stronger panamax earnings. Top grade iron ore price shows sings of weakness with the benchmark 62% iron ore content price falling to $135/tonne as Chinese steelmakers have reduced their purchases from declining steel production that has hit the iron ore supply chain” she said.
She also added that “despite the recent negative picture of capesize ton mille demand, there is still faith in the segment as Chinese government’s stimulus measures in the industrial sector may bring firmer iron ore demand, but it seems difficult the capesize average spot earning to surpass the levels of $10,000/day as they are struggling to perform in the current vessel’s supply figures, when in December of 2011, they were floating at levels near to $30,000/day. Under the current fundamentals, shipping players prefer to move towards the scrapping of overaged large sized vessels, capesizes and panamaxes, with secondhand investments being on the frontline as more preferable type of investment than the construction of new units.
Secondhand asset prices have plunged from the first half of 2011, especially in the large sized vessel segments, capesize and panamax, with the BDI triggering further falls during the second half of the year. According to the Baltic Exchange’s Sale and Purchase Assessments, the value of a 5yrs old capesize of 172,000dwt has dropped to about $33,4mil from $42,9 at the end of June 2011, while at end of June 2008 was more than $153mil. In the panamax market, the value of a 5yrs old vessel of 74,000dwt is now at near $23mil, from $30,8 at the end of June 2011, while at the end of June 2008 was more than $88mil. In the supramax segment, the value of 5yrs old vessel of 52,000dwt is now in the region of $22mil from $27,5mil at the end of June 2011, while at the end of June 2008 was at more than $75mil” she concluded.
Still, for the time being Capesizes are currently earning $7,904/day, an increase of $3,916/day from a week ago, while panamaxes are earning $9,002/day, an increase of $1,167/day. At similar week in 2011, capesizes were earning $13,995/day, while panamaxes were earning $13,471/day. Supramaxes are trading at $13,556/day, up by $411day from last week’s closing, 72% and 51% higher than capesize and panamax earnings respectively. At similar week in 2011, supramaxes were getting $13,443/day, hovering at 3.9% lower levels than capesizes versus 72% today’s higher levels. Handysizes are trading at $ 10,309/day; down $105/day from last week, when at similar week in 2011 were earning $10,422/day.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Planning Commission, India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
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