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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, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
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- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Planning Commission, India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
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