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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 $14,000 passing Singapore redelivery Singapore/Japan range” it said in the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
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- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
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- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
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