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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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Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
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- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
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