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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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Monday, 28 January 13
BAYAN RESOURCES TO SELL 18 MILLION TONS OF COAL TO GNPOWER MARIVELES COAL PLANT
Publicly-listed PT Bayan Resources announced on Friday that it had signed an agreement on coal sales with Philippine-based GNPower Mariveles Coal Pl ...
Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
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- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
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