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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, 08 June 12
NO IMMEDIATE IMPACT ON ADARO'S RATING FROM BEP TRANSACTION - FITCH RATINGS
Fitch Ratings has said that PT Adaro Indonesia's (Adaro, 'BB+'/ Stable) ratings are not immediately affected by its parent PT Adaro Energy Tbk's ...
Thursday, 07 June 12
DRY BULK MARKET FALLS FOR 10 STRAIGHT SESSION ON OVERSUPPLY PROBLEMS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A resurgence of oversupply, coupled with national holidays in various parts of the world has contributed to yet another fall of the dry bulk market ...
Thursday, 07 June 12
COAL EXPORT TAX NOT RATIONAL: MINISTER - THE JAKARTA POST
Trade Minister Gita Wirjawan has criticized as irrational the idea to restrict coal exports by imposing an export tax, According to The Jakarta post ...
Thursday, 07 June 12
BY 2022 PLN IS EXPECTED TO BURN AROUND 125 MILLION TONS OF COAL
COALspot.com - Indonesia's state owned electricity company's (PLN) coal consumption is expected to reach 125.7 million tons by 2012.
Nur Pamudj ...
Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
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Showing 4701 to 4705 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- VISA Power Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
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