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Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for the first time since late February. The BDI was up by 2.19% to 1,028 points, with Panamaxes leading the fray. The Baltic’s Panamax Index was up by a whopping 4.88% to 1,354 points. Other dry bulk carriers, like the Supramaxes and the Handies were also on higher ground yesterday, reaching 922 points (up by 1.85%) and 556 points (up by 1.09%) respectively. By contrast, the Capesize market was unchanged since the previous day.
As a result of these gains, average daily earnings for Panamaxes now stand at $10,835, while those for supramax and Handysize vessels are set to $10,374 and $8,399 respectively. Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were at $6,627, on concerns of slowing demand in China.
In a quote to Reuters, Arctic Securities analyst Erik Nikolai Stavseth said that “despite capes being stuck in a rut, the BDI is showing positive tendencies. The lift has been especially helped by panamax/supramax which both are trading above $10,000 a day currently" he said. Similarly, RS Platou Markets analyst Frode Morkedal said that "the Capesize segment was still reeling under the weight of oversupplied markets and activity failing to pick up. Spot fixture activity has remained minimal as the iron ore majors were absent in both the Atlantic and the Pacific basins". Dry bulk freight rates are being pressured by growing ship supply, which is outpacing commodity demand. Analysts predict that further gains in the overall index are likely to be capped if capsize rates fail to improve in the near term, as gains in the smaller segments will be limited due a diminishing grain activity.
In a separate note, Jeffrey Landsberg from Commodore Research & Consultancy said that “another positive sign for Chinese economic growth has surfaced as Chinese steel production recently set another monthly record. According to the National Bureau of Statistics, Chinese steel mills produced a record 61.58 million tons of crude steel in March. This is 5.7mt (10%) more than produced in February and 2.18mt (4%) more than produced in March 2011. China's previous monthly crude steel production record was 60.25mt produced in May 2011.
As we discussed, we continue to believe that supporting economic growth is becoming more of a priority in China. Chinese banks issued approximately 1.01 trillion yuan ($160 billion) in loans in March, 300 billion yuan (42%) more than issued in February and 331 billion yuan (49%) more than issued in March 2011. March's 1.01 trillion yuan in loans far exceed the 738 billion yuan in loans issued in January. We continue to believe that the recent surge in lending is a another sign that growth will be supported and that new construction projects will soon take shape” concluded Landsberg.
Commenting on the Panamax market, shipbroker Fearnleys said in its weekly report that “a firmer tendency in both hemispheres, mainly driven by increased activity from ECSA grains. Fresh coal requirements from USG and Indonesia are adding fuel to the optimism for both ballasters and prompt positions. North Atlantic is tight for tonnage where Charterers now pay 10-11k to cover short rounds and 19-20k for trips out. The Pacific market is also gaining strength, to hover around 10k for NOPAC and 14k for India to China. Ballasters targeting ECSA grains are able to achieve above 12k passing Singapore. A more active period market with short period levels done above 11k/day and one-year at mid/upper 10. The forward curve following the trend but with less pace” said Fearnleys.
On the Capesize front, the shipbroker noted that “sentiment is again negative as spot volumes not by far living up to hopes/expectations. With plenty of coal stored in Continent ports, transatlantic trades are at a low and operators fall over each other at rock-bottom levels to keep their units within this geographical area. Consequent Colombian and US coal stems redirected to Asian destinations are not sufficient to maintain fronthaul levels, with a resultant marginal drop in the Tubarao/Qingdao trade to around USD 21 pmt. Far East volumes are similarly unimpressive, with WAust/China levels coming down again to around USD 7.75 pmt - equivalent to far below OPEX. Paper levels give little support for period fixing – and the majority of Capes done for 12 months recently seems to have been at discounted levels from distressed Far Eastern players” concluded Fearnleys.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Minerals Council of Australia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Parliament of New Zealand
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
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