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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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- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- PTC India Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Latin American Coal - Colombia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
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