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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, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
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- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Australian Coal Association
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
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