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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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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
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