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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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Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
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- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Australian Coal Association
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
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