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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
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