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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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Tuesday, 27 October 20
PLN STILL REFUSING TO ADAPT, A MOVE WHICH WILL HURT INVESTORS, CONSUMERS, AND THE GOVERNMENT PURSE - IEEFA
Utility’s latest planning report locks PLN into the past
PLN would be better served restructuring its business to address the current en ...
Monday, 26 October 20
'LONG ASCENT' TO RECOVERY OF GLOBAL GROWTH - BALTIC EXCHANGE
The global economy has so far avoided a “financial catastrophe” but growth projections from the International Monetary Fund’s lat ...
Friday, 23 October 20
SHIPPING LOANS AND COLLATERAL DAMAGE - VICTOR ONYEGBADO, AKABOGU & ASSOCIATES
KNOWLEDGE TO ELEVATE
Shipping finance transactions are characterised by peculiar risk factors principally on account of the shipping asset&rsq ...
Friday, 23 October 20
WHAT WILL THE 2020 ELECTIONS MEAN FOR US ENERGY? - WOOD MACKENZIE
The 2020 elections present American voters with a choice between two radically different visions for the future of energy. President Donald Trump r ...
Wednesday, 21 October 20
BRAZIL EXPORTED 238.7 MLN TONNES OF IRON ORE IN THE FIRST 9 MONTHS OF 2020 - BANCHERO COSTA
Brazil’s iron ore exports have been gradually but steadily recovering following a disastrous winter period of 2019/2020. In the first 9 month ...
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- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
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