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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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Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
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Showing 4541 to 4545 news of total 6871 |
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- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Bhatia International Limited - India
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