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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, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
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- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
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