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