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Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heavily in terms of freight rates. Yesterday, the BDI was up by 9 points to 743, with Panamaxes posting an increase of 35 points to 717 (Baltic Panamax Index), which was enough to push the market higher, as all other subsectors were mostly unchanged. According to a recent note from analysts Commodore Research & Consultancy, "Chinese demand for imported thermal coal has started the week at an extremely robust level and is poised to stay strong during the remainder of this week. 8 vessels were chartered to haul thermal coal cargoes to China on Monday (including 7 panamax vessels). This was a huge amount for a single day's worth of chartering activity.
During times of moderate demand, an average of 3 vessels are normally chartered to haul thermal coal cargoes to China each day. Demand is poised to stay robust throughout this week and into next week due to low Chinese coal port stockpiles and intensifying winter electricity demand. Coal stockpiles at Qinhuangdao (China's largest coal port) have fallen to 6.1 million tons. This is well below the crucial 7mt level that officials strive to maintain at all Coal stockpiles at Qinhuangdao times (Qinhuangdao is of great importance to Chinese officials, as it is the loading have fallen to 6.1mt, which is port for approximately 40% of China's coastal coal shipments)" said the analyst.
Still, according to Commodore, panamax rates aren't expected to find significant support in the near term. "We continue to anticipate that newbuilding deliveries will be very high this month. Dry bulk fleet growth traditionally surges every January, as owners normally delay a large amount of December deliveries to be delivered one month later in January. Delaying December deliveries allows owners to receive vessels that will be viewed as being a year younger. A year ago, for example, saw 19 panamax vessels delivered in December 2011 and then 39 delivered in January 2012. Delaying delivery just one month allowed owners to obtain a 2012-built vessel, rather than a 2011-built vessel. We strongly believe this trend will continue this year, which makes it unlikely that panamax rates will find significant support in the near term (the panamax market is currently the most oversupplied dry bulk vessel class and we expect it will remain so during all of 2013). The surge in Chinese thermal coal demand, however, is a positive sign regarding the Chinese economy and the Asian thermal coal market" it concluded.
In a separate note yesterday, shipbroker Fearnleys noted on the Panamax market that "some glimmers of hope mid-week with more cargoes entering the market, especially in the Atlantic. Some owners with ships able to breach IWL are able to get a premium for prompt cargoes, but regular Tarvs are now being fixed at around USD 6500 while fhauls with Continent delivery will fetch around USD 13-14k. In the Pacific we see rates at around USD 3-4k for round trips, more cargoes however will the number of ships absorb these cargoes? The period market has been somewhat more active beginning 2013 with a 2-year deals being done at USD 6.5 for an older vessel and around USD 7500 achievable for LME´s" it said.
In the Capesize market, Fearnleys said that "the past week has seen gradual increases in rates across all fronts in the Cape sector, both on the physical and paper side. Strong volume has come out of West Australia, causing rates to climb from USD 7 to 7.20 pmt, with prompt tonnage booked closer to the USD 8 pmt mark. However, at the time of writing, caution is being exercised in light of the approaching cyclone off the West Australia coast, and it remains to be seen whether this will put downward pressure on rates or not. Whilst Vale remains quiet, sentiment has slightly improved on fhaul, with better rates achieved for Tubarao/China (around 17.5 USD pmt). Similarly, slightly firmer numbers are being discussed for period business, with USD 8500 being done for 5-8 months, and a healthier USD 10,750 rate achieved for 9-13 months" the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
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- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
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