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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, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
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- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Australian Coal Association
- Central Java Power - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
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