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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, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
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- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Planning Commission, India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Australian Coal Association
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
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