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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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Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
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