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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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Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
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Showing 4541 to 4545 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
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