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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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Thursday, 09 May 13
THE WORLD LARGEST POWER PLANT COAL EXPORTER SHIPPED 36 MILLION TONS OF COAL IN MARCH
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 36.165* million tons of coal in March 2013.
Ac ...
Thursday, 09 May 13
DRY BULK SHIP OWNERS KEEP BUILDING NEW VESSELS ON THE BACK OF LOWER PRICES AND IMPROVED MARKET PROSPECTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have inc ...
Thursday, 09 May 13
HANDY : RBCT ROUNDS FIXED AT USD 8000 DOP ECI - FEARNRESEARCH
Handy
The atlantic market started to pick up with new orders. The USG-Feast was at USD 20k and Black sea-feast was at USD 12k. The pacific mkt rema ...
Wednesday, 08 May 13
PANAMAX VESSELS PROVE TO BE "STARS OF THE MONTH" FOR THE DRY BULK MARKET DURING APRIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the he ...
Tuesday, 07 May 13
NEWCASTLE PORT'S COAL EXPORTS HOLD STEADY WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,975,160 tons of thermal and coking coal for week ended 0700 hours 6 May 2013, Newcastl ...
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- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- PTC India Limited - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
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