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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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Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
Friday, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
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- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Parliament of New Zealand
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
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