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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, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
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Showing 4731 to 4735 news of total 6871 |
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- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
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