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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, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
Thursday, 31 January 13
DRY BULK RATES ON A FALLING PATTERN DUE TO ADVERSE WEATHER CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The seasonal factor has emerged as the latest catalyst in determining the course of the dry bulk market, as the floods in eastern Australia, the big ...
Thursday, 31 January 13
NEWCASTLE PORT SHIPPED 2.70 MMT OF COAL W/E 28 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,703,921 MT of thermal and coking coal for week ended 0700 hours 28 January 2013, Newca ...
Thursday, 31 January 13
MMTC TO IMPORT 2.68 MMT OF COAL FOR ARAVALI POWER CORPORATION LTD
COALspot.com: The tender floated by MMTC on behalf of Aravali Power Corporation Ltd, a Joint venture between NTPC and State of Haryana for supply of ...
Wednesday, 30 January 13
TNPL TO SECURE 300K MT OF IMPORTED COAL SUPPLIES AT US$ 75.95 PMT FOR MARCH - AUGUST 2013 DELIVERY
COALspot.com – Chennai based Coastal Energy Private Limited (C&O Group of companies) offered lowest price of US$ 75.95 per met ...
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- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
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