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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, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
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- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Indika Energy - Indonesia
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