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