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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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Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
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- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
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