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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
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Planning Commission, India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
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