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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, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
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- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Economic Council, Georgia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
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