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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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Monday, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
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- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
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