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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, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
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- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Australian Coal Association
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Planning Commission, India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
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