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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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Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Posco Energy - South Korea
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Deloitte Consulting - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
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