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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, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
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- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
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