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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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Wednesday, 02 January 13
NEWCASTLE PORT SHIPPED 23.61 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,533,183 MT of thermal and coking coal for week ended 0700 hours 31 December 2012, Newc ...
Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted, that Capesize time-charter rates are expected to stay elevated in the following six ...
Monday, 31 December 12
KOSEP IS LOOKING FOR 280K MT OF 4600 NCV COAL FOR APRIL - JUNE 2013
COALspot.com : South Korean state-owned utility Korea South-East Power Co., Ltd. (KOSEP), has issued an new tender for prompt supply of 280,00 ...
Monday, 31 December 12
VALE CELEBRATES ARRIVAL OF "VALE SOHAR" BULK CARRIER TO SULTANATE WITH MEMBERS OF COMMUNITY
'Vale Sohar', one of the largest bulk carriers in the world, was welcomed to Oman by members of the North Al Batinah community headed by H.E. Shei ...
Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
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- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
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