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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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Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
Monday, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
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- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
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