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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, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
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- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
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- White Energy Company Limited
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- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
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