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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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Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
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- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
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