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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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Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
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- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Planning Commission, India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
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