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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Australian Coal Association
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
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