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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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Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
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- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Australian Coal Association
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
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