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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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Showing 4586 to 4590 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
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