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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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Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
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- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- VISA Power Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
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