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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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Tuesday, 04 December 12
NEWCASTLE PORT SHIPPED 55.88 PERCENT MORE COAL W/E 3 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,796,341 MT of thermal and coking coal for week ended 0700 hours 3 December 2012, Newca ...
Sunday, 02 December 12
YEAR 2013, YEAR OF SUPPLY OR DEMAND?
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1 2013 delivery gained 2.87 & 0.83 percent MoM and WoW respectively ...
Saturday, 01 December 12
TIGHT SUPPLY, DEMAND PUSH INDO-INDIA SUPRAMAX FREIGHT RATES HIGHER - VISTAAR
COALspot.com - The freight market was mixed this week as cape and Panamax indices are closing softer.
The BDI was down 0.37 pct closing at 1,086 ...
Friday, 30 November 12
FUTURE TREND OF SECOND HAND SHIP VALUES PUZZLING SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the major challenges that ship owners are facing today is whether or not to invest in a second hand vessel at any given time. For instance, i ...
Friday, 30 November 12
IS INDONESIAN COAL INDUSTRY DEPENDS HEAVILY ON INDIA AND CHINA?
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 35,143,587* tons of coal in October 2012. October exports are 19 ...
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- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Anglo American - United Kingdom
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
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