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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, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
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- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
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