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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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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this mon ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
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Showing 4661 to 4665 news of total 6871 |
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- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Australian Coal Association
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
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