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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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Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
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- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- The University of Queensland
- Australian Coal Association
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Planning Commission, India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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