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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, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
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- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- White Energy Company Limited
- London Commodity Brokers - England
- Minerals Council of Australia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
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