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