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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, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
Tuesday, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
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- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Central Electricity Authority - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
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