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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, 23 April 13
REALM CONTINUES AS 51% OWNER AND MANAGER OF THE KATINGAN RIA THERMAL COAL PROJECT
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced today that, the commercial way forward for the development of its 51% held Indonesian t ...
Tuesday, 23 April 13
TIGERS REALM COAL HAS SOME OF THE WORLD'S BEST UNDEVELOPED COKING COAL ASSETS - EXECUTIVE CHAIRMAN
COALspot.com - “ During 2012, your Company has made very significant progress towards meeting its stated objective of becoming a global player ...
Tuesday, 23 April 13
AUSTRALIA'S NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 4.38 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,434,336 tons of thermal and coking coal for week ended 0700 hours 22 April 2013, Newca ...
Sunday, 21 April 13
INDONESIA - INDIA COAL FREIGHT RATES ARE FIRMING UP - CAPT. REDDY
COALspot.com – The BDI was up by 1.40 pct closed at 888 points week ended 19 April 2013. The Cape index was down by 2.45 pct closing at 1234 p ...
Friday, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first qua ...
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- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
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