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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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Wednesday, 03 July 13
NEWCASTLE COAL EXPORTS DIP 24.79 PER CENT WOW
COALspot.com - Newcastle Coal exports fell 24.79% to 2.33 million tons WoW.
Newcastle port in Australia has loaded 2,332,513 tons of coal for the ...
Monday, 01 July 13
12TH CLEAN COAL FORUM INDONESIA 2013
Press Release: Produced by CDMC Events, The 12th Clean Coal Forum Indonesia 2013 will be held on Dec 5-6,2013 in Jakarta, Indonesia. It will generat ...
Monday, 01 July 13
INDIA AND CHINA STILL DOMINATING THE INDONESIAN THERMAL COAL EXPORT MARKET
COALspot.com: Indonesia, the world's largest multi types coal exporter shipped 35.83* million tons of coal in May 2013, 1.40 per cent l ...
Sunday, 30 June 13
YEAR 2014 INDO SUB-BIT COAL SWAPS EXPECTED TO STAY BELOW 2013 LEVEL
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery have gained 0.08 percent on a day lost on week ...
Sunday, 30 June 13
CAPESIZE RATES SEEN INCREASING ON HIGH DEMAND - VISTAAR
COALspot.com - The BDI continued to rise and saw a big gain on Friday. BDI increased 14 per cent week ended 28 June 2013, closed at 1171 points driv ...
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- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
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