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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, 14 May 13
NEWCASTLE PORT'S COAL EXPORTS FALL 6.83 PERCENT
COALspot.com - Newcastle port in Australia has loaded 2,771,891 tons of thermal and coking coal for week ended 0700 hours 13 May 2013, Newcast ...
Monday, 13 May 13
SGX ASIACLEAR OTC COAL SWAPS : RELATIVELY STABLE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.15 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 11 May 13
INDONESIA TO INDIA COAL FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK
COALspot.com - This week the market remained flat compared to last week. BDI slightly up 0.68 pct and closed at 884 points and the cape size index u ...
Friday, 10 May 13
U.S. PRODUCED TOTALED APPROXIMATELY 18.5 MMST OF COAL W/E 4 MAY 2013
COALspot.com - U.S. produced totaled approximately 18.5 million short tons (mmst) of coal in a week (For the week ended 4 May, 2013), EIA said in it ...
Thursday, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam ...
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- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- VISA Power Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- The University of Queensland
- PTC India Limited - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
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