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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Planning Commission, India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- White Energy Company Limited
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Central Electricity Authority - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
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