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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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Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
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- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
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