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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
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- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- White Energy Company Limited
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
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