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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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Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
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