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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, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
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- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
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