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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, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
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- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
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