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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, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
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