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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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Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
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Showing 4641 to 4645 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- White Energy Company Limited
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
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