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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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Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
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- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Australian Coal Association
- PTC India Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- MS Steel International - UAE
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
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