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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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Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
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- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
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