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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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- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Australian Coal Association
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Planning Commission, India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
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