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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 $13,000/day for seven straight weeks. This was a tremendous achievement considering that Cape rates stayed at depressed levels throughout the first three quarters of last year. For this year, we believe the Capesize market is showing signs of recovery that first were glimpsed during October of last year. While there will surely be fluctuation at times, it is likely that Capesize rates will find a good deal of strength during the second half of the year -- as long as Chinese demand for imported iron ore is strong. While it has been troubling that Chinese steel output has exceeded demand during several months this year, it is encouraging that Chinese iron ore imports have remained firm as spot iron ore import prices have stayed low. Overall, we believe iron ore import prices will stay low due to ongoing increases in global iron ore production. Low iron ore prices, robust iron ore imports, and low Capesize fleet would help Capesize rates find even greater support".
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
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- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- Planning Commission, India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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