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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, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
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- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- The University of Queensland
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
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