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Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
 The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still standing below the psychological barrier of 1,000 points mark. The capesize segment, the main key factor, lying behind the overall positive performance of the BDI, faces tremendous supply issues with average time charter earning floating at levels below $3,500/day. During the Lehman crisis of 2008, capesize average time charter earnings have dipped to $2,318/day on the beginning of December of 2008, from the peak of $233,988/day on June 5th. The levels of 2008 belong in a forgettable past with dry bulk operators finding ways to adjust their operational results in the current weak freight market. The recent slide of bunkering costs, the record scrapping activity of this year and the low ordering activity have eased at some level the pain of the market, but the dry cargo demand is not yet at levels that could remedy the imbalance of the freight markets between vessels’ supply and demand.
Panamax have recently found some support with average time charter earning reaching levels at more than $8,000/day, but they are still below $10,000/day, when at similar period last year levels were at around $14,000-$15,000/day. The increased activity in Atlantic and new coal cargoes from Indonesia have recently lifted panamax rates by 20% from the beginning of June, but there is still great uncertainty about the long term stability of the panamax segment given the outstanding orderbook and the upcoming vessel deliveries in 2013. According to Commodore Research, for the second half of this year, the orderbook for panamax vessels stands at roughly 355 vessels, while the orderbook for capesize vessels stands at roughly 145 vessels. For 2013, the orderbook for panamax vessels stands at roughly 240 vessels, while the orderbook for capesizes at around 90 vessels.
Supramax and handysize rates are also showing firmer signs from an increased spot chartering activity with levels at more than $11,000/day for supramax units and near to $10,000/day for handysizes.
Near term prospects for the capesize market remain dark with supramax and handysize vessel categories showing a stronger resistance in the current oversupplied market. Chinese demand for imported iron ore cargo has shown weakness in June due to recent decline in steel production and a large amount of iron ore stockpiled at Chinese ports, even the rise of Chinese iron ore imports in the first five months of the year to around 300.1mt, up 9% year-on-year. There is a positive outlook on the rebound of Chinese iron ore demand in the coming month due to government’s stimulus measures in the industrial sector. Chinese demand for thermal coal remains also low, but the peak summer electricity demand is approaching with the government waiting daily electricity consumption at a record of 15.5 to 16 billion kilowatt hours this summer.
As we are near to end of the first half of 2012, the BDI has averaged below 1,000 points mark, at 940 points, compared with more than 1,300 points last year. The dry outlook is not at all optimistic as larger vessel categories, panamax and capesizes, are struggling to perform in the current vessels’ supply figures, pushing the BDI to hover below 1,000 points. The recent upward changes of the index driven mainly from the boosted performance of the panamax size bringing a euphoria that seems that will no last for a long time.
Source: Maria Bertzeletou, Hellenic Shipping
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Friday, 06 November 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 05 November 20
THE INDONESIA COAL PRICE REFERENCE RISES FOR SECOND CONSECUTIVE MONTH
COALspot.com: The Indonesia Coal Price Reference rose for a 2nd month by 9.24% month on month. The Indonesia Coal Price Reference for the month of ...
Wednesday, 04 November 20
PHILIPPINES COAL MORATORIUM HIGHLIGHTS DRAMATIC PIVOT TO RENEWABLE ENERGY INVESTMENT FOR LOWER PRICES AND POWER SYSTEM RESILIENCE - IEEFA
Policymakers and industry leaders ready to embrace new energy technologies
The Department of Energy’s call for a moratorium on ...
Wednesday, 04 November 20
FOREIGN INVESTORS FACE TOUGH TIMES CLOSING VIETNAM’S REMAINING COAL POWER DEALS - IEEFA
Project bankability at risk as new regulations threaten usual contractual terms
Foreign investors will face higher-than-usual risks ...
Wednesday, 04 November 20
MARKET INSIGHT - INTERMODAL
As the end of the year approaches, one would definitely notice that the newbuilding orderbook for bulk carriers is significantly smaller compared t ...
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- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
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