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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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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
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- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
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