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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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Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
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- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
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