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