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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, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
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