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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, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
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- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
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