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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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Saturday, 17 March 12
THE FREIGHT RATES FOR INDONESIA TO INDIA REMAINED FIRM - VISTAAR SINGAPORE
COALspot.com - The market continued to be firm and all segments were up except for Cape Index which was down by 2.46 pct closing at 1,466 points.
...
Saturday, 17 March 12
INDIAN GOVT FINALIZES DRAFT BILL FOR COAL REGULATOR - PTI
The coal sector would soon get a regulator as the government has finalised a draft bill for the purpose, Coal Minister Sriprakash Jaiswal said Wedne ...
Friday, 16 March 12
THE PACIFIC MARKET IS FIRMING UP - FEARNLEYS AS
Handy
A slightly positive trend was seen last week in the Atlantic. Skaw-Passero deliveries fixed around USD 3k to US Gulf, while US Gulf deliveres ...
Thursday, 15 March 12
RAINS AVERAGE SELLING PRICE OF COAL WENT UP BY 22 % IN 2011
COALspot.com - PT. Resource Alam Indonesia Tbk, an Indonesian CCoW (3rd Generation) holder reported Wednesday a 171 percent increase in net profits ...
Thursday, 15 March 12
RESOURCE ALAM FY11 PROFIT UP 171% - INSIDER STORIES
Insider Stories reported that, coal mining company PT Resource Alam Indonesia Tbk (KKGI) reported a 171.16% jump in net profit last year on the back ...
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- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- London Commodity Brokers - England
- The University of Queensland
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