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Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the following six weeks at around $9,000 – 16,000. "Panamax is expected to be found in the USD 6,000-10,000 per day interval. For the Supramax segment, BIMCO forecasts freight rates to remain in the USD 7,000-9,500 per day interval, whereas Handysize rates are forecast to stay at the interval of USD 6,000-9,000 per day" the shipping organization said.
In its outlook on the dry bulk market, BIMCO's report noted that "the effect on asset prices stemming from the large inflow of new tonnage is felt across the board by all owners. Lately, the pressure on second-hand values has been so severe that the correlation with newbuilding prices is off. What once was a rather strong early indicator (correlation above 90%) of where newbuilding prices were heading, is now derailed, as Clarkson’s Bulkcarrier Secondhand Prices Index is exposing a price change of -29% as compared to the end of November last year. During the same period, the Bulkcarrier Newbuilding Price index is down by no more than 8%. Clearly, the erosion of vessel values is causing problems for ship owners and for the providers of finance. Balance sheet assets and liabilities are stretched at length, which puts even more strength in a positive and fairly predictable strong cash-flow to back the business. Q4 has brought about some optimism, with the BDI now at 1,022 driven primarily by strong Capesize demand. Leaving a disastrous 2012 behind, a stronger 2013 is most likely in the making, but don’t expect a lightning strike" the report said.
Meanwhile, in the supply side of things, BIMCO's Chief Shipping Analyst, Peter Sand said that "following an immensely hectic delivery pace during the first two quarters of the year at 30 and 33.5 million DWT respectively, things were back at “normal” in the 3rd quarter at 20.34 million DWT. Now, as we know the year-to-date numbers at the end of November coming in at 92.3 million DWT, the slowdown is considerable and happening across the board and not exclusively in China. Out of 1,118 dry bulk carriers launched so far in 2012, 579 have been delivered from Chinese shipyards (51%). Despite the recent slowdown, deliveries are forecast to go higher towards the end of the year, bringing the deliveries tally beyond the 100 million DWT mark for the second year in a row. Going forward, 2013 deliveries are “front end loaded”, with 52% in the first six months and 32% in the final six months, leaving 16% without a fixed delivery month.
The demolition of commercially obsolete tonnage has reached 517 vessels of 31 million DWT. This has positively reduced the active fleet, which nonetheless has grown by 9.8% since the turn of the year. In respect of demolition, 2012 has been just as good as the freight market has been bad. Despite disruptions at major demolition sites, the total demolition yard capacity has proved sufficiently large. India, followed by Bangladesh, took the lion’s share in that market" Sand noted.
opportunities as higher gas production, followed by lower gas prices, turned the tables in the domestic US market. The production of gas, including shale gas, has stayed high and prices low in 2012, opening up for strong US coal exports in 2012. Ninety-eight million tons of coal was exported during the first nine months of 2012, making annual exports head for an all-time high, surpassing the highs of 1981.
Will this venture stay strong? It’s unlikely, if you ask the US Energy Information Agency, who predict US coal exports will decline in 2013 but remain above 100 million tons for the third straight year.
The case is this: as long as US coal exports go to Europe as a substitute for Australian exports, the lower ton/-mile represents a bad bargain for shipping. But if US exports are heading for the Asian markets, it may become a positive story for the dry bulk market" BIMCO noted.
the US and relatively high in Europe, leaving demand for thermal coal low in US domestic markets but higher in Europe, as coal is the preferred fossil fuel for electricity generation in Europe. Finally, a supply disruption in a major export country may increase US exports. The steel sector, and thus also the Capesize sector, has enjoyed some tail-wind in recent months from China’s proactive approach to seeking higher growth. The September stimulus package immediately affected iron ore prices and Chinese imports positively. As Indian exports to China experienced new lows in Aug./Sept./Oct., the imports had to come from Brazil (longer distance as compared to Indian exports) or Australia (shorter distance). Strong Brazilian exports meant that the dry bulk market saw a solid upside from this surge in demand.
US wheat exports in 2012 have been weak all year. Export volumes during the “peak season” months of August and September were particularly disappointing. The shortfall of an accumulated 23% of the total wheat exports as compared to same period last year highlights the fact that many owners experienced a fierce fight for too few cargoes.
Russia’s Agriculture Ministry now expects the drought to cause a drop in harvesting this year as high as 25% compared to the 2011 harvest. Russia, a huge exporter of mainly wheat, said total grain exports were down by 17% compared to last season. The shortfall in seaborne grain exports from both the US and Russia has further and negatively impacted the shipping markets" BIMCO's report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
Sunday, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
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- Parliament of New Zealand
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Bhoruka Overseas - Indonesia
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- Planning Commission, India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
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- Singapore Mercantile Exchange
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- Eastern Coal Council - USA
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- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
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