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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Minerals Council of Australia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
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