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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, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
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- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
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