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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 $14,000 passing Singapore redelivery Singapore/Japan range” it said in the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
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