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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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Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
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- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- The University of Queensland
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
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