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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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Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
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- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
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- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
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- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
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- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
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- Xindia Steels Limited - India
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- The University of Queensland
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- Carbofer General Trading SA - India
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- Anglo American - United Kingdom
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- Videocon Industries ltd - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
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- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- White Energy Company Limited
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
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- Coalindo Energy - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
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