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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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Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
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