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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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Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
Sunday, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
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- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- White Energy Company Limited
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
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