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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, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
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