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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Economic Council, Georgia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- The University of Queensland
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
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