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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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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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- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
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