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