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Tuesday, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rates are expected to fluctuate at low levels around USD 4,000–11,000 per day. Panamax is expected a tad higher in the USD 3,000-8,500 per day interval. For the smaller segments, BIMCO forecasts that the Supramax freight rates are likely to remain on top in the USD 7,000-12,000 per day interval. Handysize rates, set to move sideways and less erratic, are likely to stay at the interval of USD 6,000-9,000 per day.
According to the report, in terms of demand, "as we are heading into Q4 our thoughts go back to the strong days during the end of last year. In spite of a recent strong return of Chinese iron ore imports, history is unlikely to repeat itself. Freight rates have been on the slide since mid-Summer and only Capes have resisted consistent erosion. The flexible workhorses in the Supramax segments are weathering the storm better than the pack, if one judges only by average TC earnings. Standing in contrast is the devastating trend in Panamax earnings which is desperately looking for a reason to return above the waterline. Cargo growth remains on track for a 4% increase for the full year, revealing once again the supply side as the most significant factor behind the freight rate declines.
During the week ending 28 September, the largest amount of tonnage for iron ore in over a year was fixed. This is surely the first positive effect of the Chinese stimulus package, but an effect that will only prove to be sustainable if local Chinese steel demand picks up. The deep dip in prices on iron ore and steel was reversed during first half of September, causing a sigh of relief through the market. The optimism returned on speculation that Chinese steel mills would hike imports in the wake of the announced stimulus programme and prospects of increased steel demand" it said.
It added that "due to weaker demand, the Chinese steel mills have been eating up stocks and hesitated to go for imports before a new price level was found. As the production costs of domestic Chinese iron ore mines is much higher than those of overseas mining companies, a lower commodity price is actually good news for seaborne imports as steel mills will then go for the higher quality imported ore. There is much talk about the weather-related impact on seaborne shipping of grains, resulting in a development where the total grain exports is seen to drop by as much as 20 million tons this season, equal to y-o-y decline of 8%. This is affecting shipping negatively, as historically, grain exports have provided a consistent growth contribution in ton-mile demand. Both volumes and quality are affected. The crops of Argentina, Australia, the US, Ukraine and Russia are the big ones that are negatively affected, whereas Canada and EU are seen to increase exports slightly. The rapid economic development in China has spurred the demand for power generation.
As a consequence, China has gone from being a solid net exporter of thermal coal to one of the biggest net importers over the span of just a few years. CRSL expects thermal coal imports to be 122.8 million tons this year – and with an increase to 137.8 million tons (12% y-o-y) for 2013, it appears to be coal rather than iron ore that will lead the dry bulk sector out of the slump. India has also experienced a high demand growth, and is expected to be the second-largest importer of thermal coal in 2013 with imports of 128.5 million tons, second only to China" BIMCO noted.
Supply-wise, BIMCO's chief shipping analyst noted that "while our projections for the fleet growth in percentage have remained somewhat steady most of the year, the flows in and out have been much stronger than foreseen at the start of the year. The hectic delivery pace has surpassed the astonishing level of 10 million DWT a month several times, whilst demolition activity has breached the 3 million DWT a month level numerous times too" he said.
The report also examined what can be deduced from this? "Probably that many shipyards are suffering under an intense lack of cash-flow. Whereas the payment structure of the contracts previously were mostly equally distributed or front-heavy from signing to delivery, the contracts that have been made more recently are likely to be back-end loaded, releasing the biggest chunk of the money to the yards closer to the completion and delivery of the ship. This could be one of many explanations that may eventually cause widespread bankruptcies amongst smaller and privately-held yards in the main shipbuilding nations. The active fleet has grown by 8.8% since the turn of the year, as 964 new ships have now been delivered into a fleet that already stood at 8,901 dry bulk carriers at the start of the year. Fortunately, the pressure of 80 million DWT of brand new capacity being poured into the market has been eased to some extent by 375 over aged vessels being demolished. Ship owners continuously apply the demolition tool generously in order to improve the bad market conditions by cutting down on the supply side. Demolition activity in India, Bangladesh and Pakistan in particular is strong, with lots of dry bulk tonnage sold for breaking. Following the drop in demolition prices from the top in April prices have now moved sideways at a new lower level that has stuck around for some months now. 25 million DWT has now been demolished during 2012 with more to come, assuming that ship owners continue to be tempted by the recycling price level" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
Thursday, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
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Showing 4511 to 4515 news of total 6871 |
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- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
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