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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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Saturday, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
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- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
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