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Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 In its regular update on the dry bulk market, BIMCO forecasted yesterday, 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 on the dry bulk market, 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.
opportunities as higher gas production, followed by lower gas prices, turned the tables in the domestic US market. The production of gas, including shale gas, has stayed high and prices low in 2012, opening up for strong US coal exports in 2012. Ninety-eight million tons of coal was exported during the first nine months of 2012, making annual exports head for an all-time high, surpassing the highs of 1981.
Will this venture stay strong? It’s unlikely, if you ask the US Energy Information Agency, who predict US coal exports will decline in 2013 but remain above 100 million tons for the third straight year.
The case is this: as long as US coal exports go to Europe as a substitute for Australian exports, the lower ton/-mile represents a bad bargain for shipping. But if US exports are heading for the Asian markets, it may become a positive story for the dry bulk market" BIMCO noted.
the US and relatively high in Europe, leaving demand for thermal coal low in US domestic markets but higher in Europe, as coal is the preferred fossil fuel for electricity generation in Europe. Finally, a supply disruption in a major export country may increase US exports. The steel sector, and thus also the Capesize sector, has enjoyed some tail-wind in recent months from China’s proactive approach to seeking higher growth. The September stimulus package immediately affected iron ore prices and Chinese imports positively. As Indian exports to China experienced new lows in Aug./Sept./Oct., the imports had to come from Brazil (longer distance as compared to Indian exports) or Australia (shorter distance). Strong Brazilian exports meant that the dry bulk market saw a solid upside from this surge in demand.
US wheat exports in 2012 have been weak all year. Export volumes during the “peak season” months of August and September were particularly disappointing. The shortfall of an accumulated 23% of the total wheat exports as compared to same period last year highlights the fact that many owners experienced a fierce fight for too few cargoes.
Russia’s Agriculture Ministry now expects the drought to cause a drop in harvesting this year as high as 25% compared to the 2011 harvest. Russia, a huge exporter of mainly wheat, said total grain exports were down by 17% compared to last season. The shortfall in seaborne grain exports from both the US and Russia has further and negatively impacted the shipping markets" BIMCO's report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 18 December 12
NEWCASTLE PORT IN AUSTRALIA SHIPPED 20.19 PERCENT MORE COAL W/E 17 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 3,269,640 MT of thermal and coking coal for week ended 0700 hours 17 December 2012, Newc ...
Monday, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
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- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- White Energy Company Limited
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
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