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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, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
Friday, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
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- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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