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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, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
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- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
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