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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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Tuesday, 04 December 12
NEWCASTLE PORT SHIPPED 55.88 PERCENT MORE COAL W/E 3 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,796,341 MT of thermal and coking coal for week ended 0700 hours 3 December 2012, Newca ...
Sunday, 02 December 12
YEAR 2013, YEAR OF SUPPLY OR DEMAND?
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1 2013 delivery gained 2.87 & 0.83 percent MoM and WoW respectively ...
Saturday, 01 December 12
TIGHT SUPPLY, DEMAND PUSH INDO-INDIA SUPRAMAX FREIGHT RATES HIGHER - VISTAAR
COALspot.com - The freight market was mixed this week as cape and Panamax indices are closing softer.
The BDI was down 0.37 pct closing at 1,086 ...
Friday, 30 November 12
FUTURE TREND OF SECOND HAND SHIP VALUES PUZZLING SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the major challenges that ship owners are facing today is whether or not to invest in a second hand vessel at any given time. For instance, i ...
Friday, 30 November 12
IS INDONESIAN COAL INDUSTRY DEPENDS HEAVILY ON INDIA AND CHINA?
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 35,143,587* tons of coal in October 2012. October exports are 19 ...
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- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
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