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