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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 $10,422/day.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
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Showing 4721 to 4725 news of total 6871 |
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- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
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