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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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Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
Thursday, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
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- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
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