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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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Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
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