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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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Monday, 22 July 13
INDO COAL SWAP FOR AUGUST 13 DELIVERY GAINED ON WEEK BUT LOST ON DAY AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery slightly up on week but fell on day and month on Fri ...
Friday, 19 July 13
U.S.COAL PRODUCTION TOTALED APPROXIMATELY 19.60 MMST WEEK ENDED JULY 13
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.60 million short tons (mmst) of ...
Friday, 19 July 13
TNPL IS LOOKING FOR 300 K MT OF 6000 GAD COAL FOR FIVE MONTH
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 5 shipments about 60,0 ...
Thursday, 18 July 13
3RD ANNUAL FLOATING TERMINALS, INDONESIA
Commercial applications for offshore transshipment facilities
Floating Terminal solutions are increasingly being deployed by miners, independent ...
Thursday, 18 July 13
THE CAPE MARKET APPEARS TO BE HOLDING FIRM - FEARNLEYS AS
Handy
In the Pacific, market maintained similar levels during the week. There is several Indo coal orders in the market, ships passing Singapore fi ...
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- ASAPP Information Group - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
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