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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, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- The University of Queensland
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Planning Commission, India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
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