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Tuesday, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rates are expected to fluctuate at low levels around USD 4,000–11,000 per day. Panamax is expected a tad higher in the USD 3,000-8,500 per day interval. For the smaller segments, BIMCO forecasts that the Supramax freight rates are likely to remain on top in the USD 7,000-12,000 per day interval. Handysize rates, set to move sideways and less erratic, are likely to stay at the interval of USD 6,000-9,000 per day.
According to the report, in terms of demand, "as we are heading into Q4 our thoughts go back to the strong days during the end of last year. In spite of a recent strong return of Chinese iron ore imports, history is unlikely to repeat itself. Freight rates have been on the slide since mid-Summer and only Capes have resisted consistent erosion. The flexible workhorses in the Supramax segments are weathering the storm better than the pack, if one judges only by average TC earnings. Standing in contrast is the devastating trend in Panamax earnings which is desperately looking for a reason to return above the waterline. Cargo growth remains on track for a 4% increase for the full year, revealing once again the supply side as the most significant factor behind the freight rate declines.
During the week ending 28 September, the largest amount of tonnage for iron ore in over a year was fixed. This is surely the first positive effect of the Chinese stimulus package, but an effect that will only prove to be sustainable if local Chinese steel demand picks up. The deep dip in prices on iron ore and steel was reversed during first half of September, causing a sigh of relief through the market. The optimism returned on speculation that Chinese steel mills would hike imports in the wake of the announced stimulus programme and prospects of increased steel demand" it said.
It added that "due to weaker demand, the Chinese steel mills have been eating up stocks and hesitated to go for imports before a new price level was found. As the production costs of domestic Chinese iron ore mines is much higher than those of overseas mining companies, a lower commodity price is actually good news for seaborne imports as steel mills will then go for the higher quality imported ore. There is much talk about the weather-related impact on seaborne shipping of grains, resulting in a development where the total grain exports is seen to drop by as much as 20 million tons this season, equal to y-o-y decline of 8%. This is affecting shipping negatively, as historically, grain exports have provided a consistent growth contribution in ton-mile demand. Both volumes and quality are affected. The crops of Argentina, Australia, the US, Ukraine and Russia are the big ones that are negatively affected, whereas Canada and EU are seen to increase exports slightly. The rapid economic development in China has spurred the demand for power generation.
As a consequence, China has gone from being a solid net exporter of thermal coal to one of the biggest net importers over the span of just a few years. CRSL expects thermal coal imports to be 122.8 million tons this year – and with an increase to 137.8 million tons (12% y-o-y) for 2013, it appears to be coal rather than iron ore that will lead the dry bulk sector out of the slump. India has also experienced a high demand growth, and is expected to be the second-largest importer of thermal coal in 2013 with imports of 128.5 million tons, second only to China" BIMCO noted.
Supply-wise, BIMCO's chief shipping analyst noted that "while our projections for the fleet growth in percentage have remained somewhat steady most of the year, the flows in and out have been much stronger than foreseen at the start of the year. The hectic delivery pace has surpassed the astonishing level of 10 million DWT a month several times, whilst demolition activity has breached the 3 million DWT a month level numerous times too" he said.
The report also examined what can be deduced from this? "Probably that many shipyards are suffering under an intense lack of cash-flow. Whereas the payment structure of the contracts previously were mostly equally distributed or front-heavy from signing to delivery, the contracts that have been made more recently are likely to be back-end loaded, releasing the biggest chunk of the money to the yards closer to the completion and delivery of the ship. This could be one of many explanations that may eventually cause widespread bankruptcies amongst smaller and privately-held yards in the main shipbuilding nations. The active fleet has grown by 8.8% since the turn of the year, as 964 new ships have now been delivered into a fleet that already stood at 8,901 dry bulk carriers at the start of the year. Fortunately, the pressure of 80 million DWT of brand new capacity being poured into the market has been eased to some extent by 375 over aged vessels being demolished. Ship owners continuously apply the demolition tool generously in order to improve the bad market conditions by cutting down on the supply side. Demolition activity in India, Bangladesh and Pakistan in particular is strong, with lots of dry bulk tonnage sold for breaking. Following the drop in demolition prices from the top in April prices have now moved sideways at a new lower level that has stuck around for some months now. 25 million DWT has now been demolished during 2012 with more to come, assuming that ship owners continue to be tempted by the recycling price level" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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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 ...
Monday, 29 October 12
US COAL EXPORTS ARE EXPECTED TO REACH 125 MILLION TONS THIS YEAR - EIA
COALspot.com - US coal exports are expected to reach 125 million tons this year, surpassing the old record of about 113 million tons set in 1981, sa ...
Sunday, 28 October 12
SUB-BIT INDONESIA COAL SWAPS (FOB ) FOR DECEMBER 2012 DELIVERY STAYED FLAT D-D
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery flat on D-D but gained 0.38 percent on W-W on Friday, 26 October 2012, ...
Sunday, 28 October 12
INDONESIA TO INDIA SUPRAMAX FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - The Cape size sector continued to remain active with iron ore movement being steady. All other sectors were down.
The BDI was up b ...
Friday, 26 October 12
SHIPPING MARKETS HEADING FOR DIVISION AND MULTI-TIER WILL BECOME THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It seems that something is expected to be fundamentally different in the way that the shipping markets will be operating in the future, according to ...
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Showing 4526 to 4530 news of total 6871 |
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- CNBM International Corporation - China
- White Energy Company Limited
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Australian Coal Association
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
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