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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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Tuesday, 04 December 12
NEWCASTLE PORT SHIPPED 55.88 PERCENT MORE COAL W/E 3 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,796,341 MT of thermal and coking coal for week ended 0700 hours 3 December 2012, Newca ...
Sunday, 02 December 12
YEAR 2013, YEAR OF SUPPLY OR DEMAND?
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1 2013 delivery gained 2.87 & 0.83 percent MoM and WoW respectively ...
Saturday, 01 December 12
TIGHT SUPPLY, DEMAND PUSH INDO-INDIA SUPRAMAX FREIGHT RATES HIGHER - VISTAAR
COALspot.com - The freight market was mixed this week as cape and Panamax indices are closing softer.
The BDI was down 0.37 pct closing at 1,086 ...
Friday, 30 November 12
FUTURE TREND OF SECOND HAND SHIP VALUES PUZZLING SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the major challenges that ship owners are facing today is whether or not to invest in a second hand vessel at any given time. For instance, i ...
Friday, 30 November 12
IS INDONESIAN COAL INDUSTRY DEPENDS HEAVILY ON INDIA AND CHINA?
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 35,143,587* tons of coal in October 2012. October exports are 19 ...
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- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
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