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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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Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
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Showing 4711 to 4715 news of total 6871 |
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- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Minerals Council of Australia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
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