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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, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
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- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- MS Steel International - UAE
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
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