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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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Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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Showing 4651 to 4655 news of total 6871 |
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- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Parliament of New Zealand
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
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