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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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Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
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- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- The University of Queensland
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
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