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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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Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- The University of Queensland
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
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