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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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Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- VISA Power Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
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