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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
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Showing 4661 to 4665 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
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