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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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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Ministry of Mines - Canada
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
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