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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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Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
Thursday, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
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- CNBM International Corporation - China
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
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