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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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Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- PTC India Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Independent Power Producers Association of India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Cement Manufacturers Association - India
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