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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
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