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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, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
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- VISA Power Limited - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- The University of Queensland
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- White Energy Company Limited
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
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