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Tuesday, 25 June 13
CAPESIZE MARKET TO REMAIN BULLISH SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been experiencing its long-awaited rally, with the Baltic Dry Index, the industry's benchmark rising to healthier levels for ship owners. Yesterday, the BDI rose by an additional 35 points to 1,062, with Capesizes once again stealing the show, as the Baltic Capesize Index rose by 90 points to reach 1,912 points. According to the latest weekly report from Commodore Research & Consultancy, global spot chartering activity remained firm last week, which allowed dry bulk freight rates to find greater support. In total, 110 vessels were chartered to haul dry bulk commodities in the spot market last week, the same amount as the previous week. In addition, 10 vessels were chartered for period deals, 5 more than the previous week.
According to the analyst, "Capesize rates have been able to find the largest amount of support, as we have been anticipating, as capesize fleet growth has remained low. We continue to believe that as the months progress, the impact of low Capesize growth will become more pronounced in the market. We remain cautious for the Panamax market, however, as more Panamax vessels are set to continue to be delivered this year than any other type of dry bulk vessel". According to Commodore Research & Consultancy, "in China, demand for imported thermal coal in the spot market has remained under pressure as we have predicted. 7 vessels were chartered to haul thermal coal to Chinese buyers last week, 2 less than the previous week and 6 less than the trailing four week average. Qinhuangdao coal port stockpiles have risen above the critical 7 million ton level, which has caused demand for imported coal cargoes to decrease.
In the iron ore market, 25 vessels were chartered to haul iron ore to Chinese buyers last week, 10 more than the previous week and 10 more than the trailing four week average. This is the largest amount of Chinese iron ore fixtures to have surfaced since the Week Ending February 8. Various other developments including Taiwan agreeing to allow wheat imports from the US North Pacific, Indian electricity production setting another new record, and global steel prices remaining relatively low will also affect the market and are discussed in greater detail in the remainder of this week’s report. Approximately 145 vessels are anchored outside major Australian coal and iron ore ports, 20 more than a week ago. Approximately 45 vessels are anchored outside major Brazilian iron ore ports, 5 more than a week ago. Of the 190 vessels congested at major Australian and Brazilian coal and iron ore ports, approximately 140 of them are capesize vessels. In comparison, approximately 120 capesize vessels were anchored outside major Australian and Brazilian coal and iron ore ports a week ago" the analyst mentioned.
Meanwhile, South American grain and Indonesian coal fixture volume fell last week, which has caused the pace of growth in panamax rates to slow. It remains likely that the recent surge in South American grain fixtures and congestion at grain ports has helped panamax rates find support even though panamax fleet growth remains high. As South American grain fixtures and congestion stabilize, panamax rates could come under renewed pressure. Also hindering the panamax market is the recent decline in Chinese thermal coal fixture volume, which has come as a result of further coal stockpiling at the port of Qinhuangdao". Commodore said.
OUTLOOK
"Going forward, we remain bullish for the capesize market especially for the second half of the year. The Capesize market continues to benefit from low fleet growth, and as the months progress, the impact of low growth will become even more pronounced. We continue to believe that as long as Chinese demand for iron ore is strong during the second half of this year, then Capesize rates will find sustained support. It is also important to recognize the surge in Capesize rates that occurred during late 2012. As we discussed last year, and have highlighted in several reports this year, Capesize rates were able to find sustained support during the fourth quarter of last year as the Capesize fleet grew by an average net addition of only 3 vessels during August through December. In comparison, the previous seven months saw the Capesize fleet grow by a much larger average net addition of 16 vessels during January through July. So far this year, the Capesize fleet has been growing by an average net addition of approximately 5 vessels", Commodore predicted.
It concluded its argument by noting that "after a few months of low Capesize fleet growth last year, Cape rates were finally able to rise above $9,000/day by early October and then stayed above $13,000/day for seven straight weeks. This was a tremendous achievement considering that Cape rates stayed at depressed levels throughout the first three quarters of last year. For this year, we believe the Capesize market is showing signs of recovery that first were glimpsed during October of last year. While there will surely be fluctuation at times, it is likely that Capesize rates will find a good deal of strength during the second half of the year -- as long as Chinese demand for imported iron ore is strong. While it has been troubling that Chinese steel output has exceeded demand during several months this year, it is encouraging that Chinese iron ore imports have remained firm as spot iron ore import prices have stayed low. Overall, we believe iron ore import prices will stay low due to ongoing increases in global iron ore production. Low iron ore prices, robust iron ore imports, and low Capesize fleet would help Capesize rates find even greater support".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Saturday, 27 July 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN STEADY - CAPT.REDDY
COALspot.com : The freight market seemed to soften this week with BDI , Cape and Panamax indices dropped average 5 percent on week.
The BDI was d ...
Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
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- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
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