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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, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
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- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
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