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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, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
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- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
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