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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, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
Tuesday, 06 November 12
NOVEMBER 2012 HBA $35.21 LOWER THAN A YEAR AGO
COALspot.com - The Indonesian government’s declared coal reference price for November’ 12 has lost US$ 4.60 per MT M-o-M.
...
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- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Planning Commission, India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- VISA Power Limited - India
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