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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 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- The University of Queensland
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
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