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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 $10,422/day.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
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Showing 4706 to 4710 news of total 6871 |
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- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
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