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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, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
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- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- The University of Queensland
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
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