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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Parliament of New Zealand
- Sical Logistics Limited - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- The University of Queensland
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Australian Coal Association
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
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