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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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Sunday, 25 November 12
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO BE FIRM - VISTAAR
COALspot.com - The freight market was buoyant this week with all sectors up except for the Cape size index. The BDI was up by 5.21 pct closing at 10 ...
Sunday, 25 November 12
INDONESIAN SUB BITUMINOUS COAL SWAP CONTRACTS SLIDE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for February 2013 delivery lost 0.76percent WoW but gained 0.16 percent DoD on Friday ...
Saturday, 24 November 12
DELTA DUNIA MAKMUR PRODUCES 3.2 MILLION TONS OF COAL IN OCTOBER
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 31.1 million bcm* (-4.0% YoY) of Overburden in October 2012 totaled while coal production was ...
Friday, 23 November 12
CHOOSING THE RIGHT TIME TO INVEST IN NEW VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Shipping is all about timing, a process often rising to the height of artform, as ship owners are having to pick the exact moment of selling most of ...
Thursday, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
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- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
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