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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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Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
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- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
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