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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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Tuesday, 09 July 13
NEWCASTLE COAL EXPORTS JUMP 27.53% ON WEEK TO 2.97 MILLION MT
COALspot.com - Newcastle Coal exports up 27.53% to 2.97 million tons W-o-W.
Newcastle port in Australia has loaded 2,974,715 tons of coal for the ...
Tuesday, 09 July 13
CAPESIZE: SHOT UP; PANAMAXES: NOT SO LUCK; SUPRAS: SLIGHTLY BETTER; HANDIES: SOFT - INTERMODAL
COALspot.com : June 2013 Recap
A renewed Capesize market this month (June 2013) was the cause for much of the overall noteworthy performanc ...
Tuesday, 09 July 13
THE 11TH DEEP COAL PROCESSING FORUM 2013
Press Release : The 11th Deep Coal Processing Forum 2013 will be held in November Beijing China.
CDMC Events is pleased to announce that 11 ...
Monday, 08 July 13
ECO-FRIENDLY COAL FOR CHINA - VALUE FOR THE ENVIRONMENT AND VALUE FOR THE POWER GENERATOR - BY: LINDSAY JUNIPER
COALspot.com : January 2013 saw an episode of extreme particulate pollution in Beijing 35 times worse than the safe level recommended by the World H ...
Sunday, 07 July 13
FREIGHT MARKET IS EXPECTED TO BE SOFT TO STABLE NEXT WEEK- VISTAAR
COALspot.com - The freight market softened for the week ended 5 July 2013, and experienced a decline in all sectors, including BDI. Bulk dry Index d ...
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- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Economic Council, Georgia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
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