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