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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, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
Thursday, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
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- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
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