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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, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
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- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
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