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