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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, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
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