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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, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
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- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
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