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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, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
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- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
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