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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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Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
Thursday, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
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- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- White Energy Company Limited
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
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