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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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Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
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- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Indian Energy Exchange, India
- The University of Queensland
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Aditya Birla Group - India
- MS Steel International - UAE
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
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