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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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Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- The University of Queensland
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
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