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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, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
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- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- The University of Queensland
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
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