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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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Thursday, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
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- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
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