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