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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, 08 November 12
LARGE ECO SUPRA : INDO - INDIA NOW FIXED AT USD 11K FOR DELIVERY SINGAPORE - FEARNLEYS
Handy
The Atlantic market continues to remain weak with rates further softening on FH. Rates from USG to Feast were around USD 14k and Black Sea to ...
Thursday, 08 November 12
DRY BULK MARKET RETREATS AGAIN ON HIGHER SHIP SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In further evidence of a latest round of dry bulk shipping misery, the industry's benchmark fell for the 11th straight session yesterday, as the in ...
Thursday, 08 November 12
JOIN CHINA STEAM COAL SUPPLY - DEMAND FORUM
Join China Steam Coal Supply-Demand Forum & Visit Shenhua Yudean Zhuhai Port Coal Terminal
Press Release - Organized by CBI BIZ and suppo ...
Wednesday, 07 November 12
NEWBUILDING ORDERING ACTIVITY ON A STEADY PACE PRIOR TO THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders, which to many involved in the shipping industry, are the main reason of today's low freight rates and subsequent financial prob ...
Tuesday, 06 November 12
NOVEMBER 2012 HBA $35.21 LOWER THAN A YEAR AGO
COALspot.com - The Indonesian government’s declared coal reference price for November’ 12 has lost US$ 4.60 per MT M-o-M.
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- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
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