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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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Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
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- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Planning Commission, India
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