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Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heavily in terms of freight rates. Yesterday, the BDI was up by 9 points to 743, with Panamaxes posting an increase of 35 points to 717 (Baltic Panamax Index), which was enough to push the market higher, as all other subsectors were mostly unchanged. According to a recent note from analysts Commodore Research & Consultancy, "Chinese demand for imported thermal coal has started the week at an extremely robust level and is poised to stay strong during the remainder of this week. 8 vessels were chartered to haul thermal coal cargoes to China on Monday (including 7 panamax vessels). This was a huge amount for a single day's worth of chartering activity.
During times of moderate demand, an average of 3 vessels are normally chartered to haul thermal coal cargoes to China each day. Demand is poised to stay robust throughout this week and into next week due to low Chinese coal port stockpiles and intensifying winter electricity demand. Coal stockpiles at Qinhuangdao (China's largest coal port) have fallen to 6.1 million tons. This is well below the crucial 7mt level that officials strive to maintain at all Coal stockpiles at Qinhuangdao times (Qinhuangdao is of great importance to Chinese officials, as it is the loading have fallen to 6.1mt, which is port for approximately 40% of China's coastal coal shipments)" said the analyst.
Still, according to Commodore, panamax rates aren't expected to find significant support in the near term. "We continue to anticipate that newbuilding deliveries will be very high this month. Dry bulk fleet growth traditionally surges every January, as owners normally delay a large amount of December deliveries to be delivered one month later in January. Delaying December deliveries allows owners to receive vessels that will be viewed as being a year younger. A year ago, for example, saw 19 panamax vessels delivered in December 2011 and then 39 delivered in January 2012. Delaying delivery just one month allowed owners to obtain a 2012-built vessel, rather than a 2011-built vessel. We strongly believe this trend will continue this year, which makes it unlikely that panamax rates will find significant support in the near term (the panamax market is currently the most oversupplied dry bulk vessel class and we expect it will remain so during all of 2013). The surge in Chinese thermal coal demand, however, is a positive sign regarding the Chinese economy and the Asian thermal coal market" it concluded.
In a separate note yesterday, shipbroker Fearnleys noted on the Panamax market that "some glimmers of hope mid-week with more cargoes entering the market, especially in the Atlantic. Some owners with ships able to breach IWL are able to get a premium for prompt cargoes, but regular Tarvs are now being fixed at around USD 6500 while fhauls with Continent delivery will fetch around USD 13-14k. In the Pacific we see rates at around USD 3-4k for round trips, more cargoes however will the number of ships absorb these cargoes? The period market has been somewhat more active beginning 2013 with a 2-year deals being done at USD 6.5 for an older vessel and around USD 7500 achievable for LME´s" it said.
In the Capesize market, Fearnleys said that "the past week has seen gradual increases in rates across all fronts in the Cape sector, both on the physical and paper side. Strong volume has come out of West Australia, causing rates to climb from USD 7 to 7.20 pmt, with prompt tonnage booked closer to the USD 8 pmt mark. However, at the time of writing, caution is being exercised in light of the approaching cyclone off the West Australia coast, and it remains to be seen whether this will put downward pressure on rates or not. Whilst Vale remains quiet, sentiment has slightly improved on fhaul, with better rates achieved for Tubarao/China (around 17.5 USD pmt). Similarly, slightly firmer numbers are being discussed for period business, with USD 8500 being done for 5-8 months, and a healthier USD 10,750 rate achieved for 9-13 months" the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
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