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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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Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
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- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- The University of Queensland
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
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