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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- The University of Queensland
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
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