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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 points, up by 2.16%. The real "star" has been the Panamax market, which has surged by an impressive 32.77% since the start of the past week. As a result, a modern Panamax can now earn more per day than the much larger in size Capesize segment. Last week, Capesize average time charter earnings were down by 5.6%, versus an increase of 28.4% for the Panamax segment.
Capesizes are currently earning $6,598/day, $1,884/day less than handysizes, showing a decline of $394/day from a week ago, while panamaxes are earning $11,882/day, an increase of $2,618/day. At similar week in 2011, capesizes were earning $6,493/day, while panamaxes were earning $11,666/day. Supramaxes are trading at $10,667/day, up by $877/day from last week’s closing, 61% higher than capesize and 10% lower than panamax earnings. At similar week in 2011, supramaxes were getting $14,695/day, up by 38% from the current levels and 126% higher levels than capesizes. Handysize vessels are trading at $ 8,482/day; an increase by $281/day from last week, when at similar week in 2011 handysize units were earning $11,933/day.
In its latest weekly analysis of the shipping environment, shipbroker Golden Destiny mentioned that the Panamax market continues to gain from the South American grain season and fixture activity from coal demand ahead of the peak summer season. The low levels of Qinhuangdao coal stockpiles, around 5,5 million tons, due to ongoing maintenance in China’s coal Daqin Railway supports a surge in thermal coal fixture volume that boosts earnings for panamax vessels. Chinese coal imports show robust signs that provide a relief for panamax vessels. According to recently data released, China imported 21,4 million tons of coal in March, 4% more than imported in February and 137% more than imported in March 2011.
But it has to be said that “even the positive developments seen in China’s steel market and predictions for an ongoing iron ore appetite, the dry bulk market is still pressed from heavy ship supply that outpaces commodity demand with capesize average time charter earnings hovering at levels almost 80% lower than mid-December, in the region of $6,600/day from $32,000/day, with supramax and panamax earnings being in the excess of $10,000/day, when in March 2011 where at levels of excess $16,000/day. In the steel market, Chinese iron ore imports have shown a 6% increase for the first three months of the year from the first quarter of 2011. China imported approximately 187.2mt of iron ore, 10.1 more than imported during the first three months of 2011, which implies that China keeps their buying momentum despite the hefty iron ore port stockpiles, in the region of 97,6 million tons. In order to compensate for the decline in Indian iron ore exports and reduce its reliance on Australia and Brazil continues to import a growing amount of iron ore from minor exporters. One more positive sign for the recent upturn in capesize earnings is that Chinese mills have resumed their production by producing a large amount of steel. According to the National Bureau of Statistics, Chinese steel mills produced a record 61.58 million tons of crude steel in March, 5.7mt (10%) more than produced in February and 2.18mt (4%) more than produced in March 2011. The momentum continues in April with daily crude steel output hitting a record 2.03 million tonnes in the first 10 days of this month, as per data from the China Iron Ore & Steel Association” concluded Golden Destiny.
In its weekly dry bulk report, Paris-based BRS commented on the Panamax market, by saying that the firming up of the market was mainly due to “a tight tonnage offering in the Atlantic, pushing the TA round from $9,000 to almost $14,000 per day. This surprised many players and is due to the active ECSA/USG market destined for China and India. Today the amount of tonnage is very tight in the market and owner are pushing rates up. It has been a long time since we saw an owners’ market such as this. East of Suez, the market was not that active but remained stable. The Nopac round is paying $11-11,500 per day and short period is starting to pick up a bit, with operators paying $12-12,500 for LME delivery North China redelivery worldwide. The ECSA market was paying $14,000 passing Singapore redelivery Singapore/Japan range” it said in the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 06 June 12
INDONESIAN GOVERNMENT'S DECLARED COAL PRICES CONTINUING ITS DECLINE
COALspot.com - Indonesian HBA fell to lowest level since January 2011 in June 2012. The monthly coal reference price for coal sales this month ...
Monday, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
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- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
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