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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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Monday, 02 November 20
PHILIPPINES GOVERNMENT SAYS NO TO NEW COAL PLANT PROPOSALS - IEEFA | 24 PILIPINAS
The Duterte administration will no longer accept proposals to construct new coal power plants, a dramatic shift in energy policy that counts on dec ...
Sunday, 01 November 20
GRADUAL RECOVERY FOR INDONESIAN COAL FROM 4Q20; RISKS REMAIN - FITCH RATINGS
Fitch Ratings expects the credit metrics of Indonesian coal miners and coal contractors to improve from 4Q20 with the recovery in volumes and price ...
Wednesday, 28 October 20
BIODIESEL - NEW FUELS, NEW CHALLENGES - GARD | DNV GL
KNOWLEDGE TO ELEVATE
One of numerous possible ways to comply with the IMO’s strategy on the reduction of greenhouse gas (GHG) emissions ...
Wednesday, 28 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.35 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.94 points Monday, up 0.35 percent week on week.
The index, released by China ...
Wednesday, 28 October 20
MARKET INSIGHT - INTERMODAL
The global strive towards eco-friendliness and environmental sustainability in the shipping industry is mounting. There are currently almost 200 co ...
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- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- PTC India Limited - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
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