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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- The University of Queensland
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
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