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Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for the first time since late February. The BDI was up by 2.19% to 1,028 points, with Panamaxes leading the fray. The Baltic’s Panamax Index was up by a whopping 4.88% to 1,354 points. Other dry bulk carriers, like the Supramaxes and the Handies were also on higher ground yesterday, reaching 922 points (up by 1.85%) and 556 points (up by 1.09%) respectively. By contrast, the Capesize market was unchanged since the previous day.
As a result of these gains, average daily earnings for Panamaxes now stand at $10,835, while those for supramax and Handysize vessels are set to $10,374 and $8,399 respectively. Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were at $6,627, on concerns of slowing demand in China.
In a quote to Reuters, Arctic Securities analyst Erik Nikolai Stavseth said that “despite capes being stuck in a rut, the BDI is showing positive tendencies. The lift has been especially helped by panamax/supramax which both are trading above $10,000 a day currently" he said. Similarly, RS Platou Markets analyst Frode Morkedal said that "the Capesize segment was still reeling under the weight of oversupplied markets and activity failing to pick up. Spot fixture activity has remained minimal as the iron ore majors were absent in both the Atlantic and the Pacific basins". Dry bulk freight rates are being pressured by growing ship supply, which is outpacing commodity demand. Analysts predict that further gains in the overall index are likely to be capped if capsize rates fail to improve in the near term, as gains in the smaller segments will be limited due a diminishing grain activity.
In a separate note, Jeffrey Landsberg from Commodore Research & Consultancy said that “another positive sign for Chinese economic growth has surfaced as Chinese steel production recently set another monthly record. According to the National Bureau of Statistics, Chinese steel mills produced a record 61.58 million tons of crude steel in March. This is 5.7mt (10%) more than produced in February and 2.18mt (4%) more than produced in March 2011. China's previous monthly crude steel production record was 60.25mt produced in May 2011.
As we discussed, we continue to believe that supporting economic growth is becoming more of a priority in China. Chinese banks issued approximately 1.01 trillion yuan ($160 billion) in loans in March, 300 billion yuan (42%) more than issued in February and 331 billion yuan (49%) more than issued in March 2011. March's 1.01 trillion yuan in loans far exceed the 738 billion yuan in loans issued in January. We continue to believe that the recent surge in lending is a another sign that growth will be supported and that new construction projects will soon take shape” concluded Landsberg.
Commenting on the Panamax market, shipbroker Fearnleys said in its weekly report that “a firmer tendency in both hemispheres, mainly driven by increased activity from ECSA grains. Fresh coal requirements from USG and Indonesia are adding fuel to the optimism for both ballasters and prompt positions. North Atlantic is tight for tonnage where Charterers now pay 10-11k to cover short rounds and 19-20k for trips out. The Pacific market is also gaining strength, to hover around 10k for NOPAC and 14k for India to China. Ballasters targeting ECSA grains are able to achieve above 12k passing Singapore. A more active period market with short period levels done above 11k/day and one-year at mid/upper 10. The forward curve following the trend but with less pace” said Fearnleys.
On the Capesize front, the shipbroker noted that “sentiment is again negative as spot volumes not by far living up to hopes/expectations. With plenty of coal stored in Continent ports, transatlantic trades are at a low and operators fall over each other at rock-bottom levels to keep their units within this geographical area. Consequent Colombian and US coal stems redirected to Asian destinations are not sufficient to maintain fronthaul levels, with a resultant marginal drop in the Tubarao/Qingdao trade to around USD 21 pmt. Far East volumes are similarly unimpressive, with WAust/China levels coming down again to around USD 7.75 pmt - equivalent to far below OPEX. Paper levels give little support for period fixing – and the majority of Capes done for 12 months recently seems to have been at discounted levels from distressed Far Eastern players” concluded Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- The University of Queensland
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- The Treasury - Australian Government
- London Commodity Brokers - England
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