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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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- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
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