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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, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
Monday, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
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- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
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