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Wednesday, 02 January 13
DRY BULK MARKET TO STAY ELEVATED IN START OF 2013 BUT THE NEW YEAR WILL NOT BE WITHOUT TURBULENCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 In its regular update on the dry bulk market, BIMCO forecasted, 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, 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.
In a separate analysis, shipbroker Intermodal, said that with shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most important issue plaguing freight markets, the shipping industry is looking at yet another challenging year ahead, as 2013 is edging closer and closer. According to most market analysts, a potential recovery has to be postponed until at least 2014, but things could get even worse in the meantime, as a result of potentially further troubles in Europe.
According to Intermodal's report, "the hit this time will be taken by the already crippled ship finance sector, with the upcoming banking reform possibly further limiting available credit lines to owners. Yet, the above will prove to be only a mere drop in the vast ocean of the future obstacles the shipping industry has to overcome. The worst possible effects of this banking reform will be with regards to trade rather than shipping investment itself. With shipping being a derived demand, this is something beyond the control of the industry’s players" said the report.
Intermodal's George Lazaridis said in the note that "what is in the industry players' control, is the performance of supply and how well it is organised to meet global requirements and that’s where the main focus should remain. As we stand now, it will be supply that will dictate the duration and extent of the damage caused to the industry. Owners have already taken steps to limit the fleet growth rate as much as they can. The noticeable delays and cancellations of newbuildings that have taken place this year have helped put a cap on the fleet growth rate. At the same time, thanks to a significant slowdown in new orders being placed, the orderbook has decreased dramatically. The final piece to the puzzle, though by no means of smaller importance, has been the record scrapping volumes witnessed this year" he said.
Lazaridis added that "with demand playing the most important role in giving a decisive direction to the market, it looks as though it may be heading for a drop, despite all these above measures taken. What’s important is to know by how much; If the stormy weather that is approaching is of “hurricane force”, we may find ourselves forming bridges of laid-up vessels. If on the other hand, we take the most optimistic case, it may well be that we will still have a number of troubled owners, witnessing their cash flows “run aground”. In any case this will leave distressed assets ripe for the picking for all those shipping funds that have amassed over the past years" he noted".
From all of us in the Hellenic Shipping News Worldwide team, we'd like to wish you and your families a Happy New Year!
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Minerals Council of Australia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
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