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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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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Latin American Coal - Colombia
- The University of Queensland
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
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