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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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Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
Thursday, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
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- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- The University of Queensland
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
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