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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, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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Showing 4786 to 4790 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- White Energy Company Limited
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
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