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Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
 In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per day. The Panamax market is expected to hold on to recent gains and remain in the USD 5,000 – 10,000 per day range. In the Supramax market, BIMCO sees freight rates in the USD 7,000 – 11,000 per day, while Handysize rates are predicted to stay in the USD 6,500 – 9,000 interval on a daily basis.
According to the report, "the delivery pace is expected to come down as close to 25% of all the tonnage. BIMCO expects to see launched in 2013, has already been delivered during the first 11 weeks (20%) of the year. Should more than the expected amount of tonnage be built this will be a result of reduced slippage perhaps due to shipyard in dire need for cash paid down upon delivery. This is seen as plausible scenario but not our base-case.
For mysterious reasons the newbuilding prices for dry bulk tonnage seems to have flatten out in the course of the past 4-5 months whereas prices for tanker tonnage still seems to fade. This trend regarding dry bulk tonnage has been most significant for Capesize tonnage. This may have spurred some owners to “fish at the bottom of the market”, given some reason behind the recent Capesize order rush. From the demand side BIMCO expects “more of the same”, which is solid volumes in grains and coal that will eventually lift freight rates beyond the level of 2012. With Capesize as the exception, strong volumes seem to support higher rates in the three smaller vessel segments – not sentiments" BIMCO said.
In the supply side, the first 11 weeks of the year have seen the delivery of 17 million dwt, offset by 6 million dwt being recycled. "It took just 7½ weeks to deliver the same amount last year, but the slower delivery pace is not impacting the fundamental balance between tonnage demand and vessel supply quite yet. And the reason for this? It’s simple: following four years in a row with higher inflow of tonnage capacity outpacing demand, it does take a bit more than just a few months of market improvements to affect earnings significantly. But we are now for the first time in five years moving in the right direction.
Dry bulk demolition activity hasn’t been concentrated on any particular sub-segment. Just like the previous years, the average vessel sold for demolition was of 59,000 DWT. In 2013, the age has so far been 27 years which is about one year younger than last year. Bangladesh has taken the lion’s share of this, buying 2 million DWT paying around USD 420 per ltd,
which is 5% more than offered for the average dry bulk vessel sold for recycling", BIMCO said.
It added that "on the contracting side, CRSL records new contracts for 76 vessels of a total capacity of 7.5 million DWT. For some reason 30 Capesize vessels are amongst the new orders, as if the Capesize fleet was in desperate need for new tonnage. In 2012 a total of 31 new Capesize orders were placed. Bear in mind that the Capesize fleet has double during the past 5½ years – from 756 to 1,513 today, prior to that the doubling time for a much smaller fleet was 13½ years. Fortunately the launches of all these new orders are not expected before 2015. Of the recent Capesize orders, 75 percent have landed at Chinese yards and believed to be some kind of an ECO-design, with a still unknown improved fuel-efficiency. Taking some of the side-orders have been the 2012 Japanese merger of Universal Shipbuilding and IHIMU into Japan Marine United, which today holds the second largest order book amongst the Japanese yard groups - second only to Oshima Shipbuilding Co." it noted.
Meanwhile, in the demand-side of things, "the first couple of months have been challenging for all vessel sizes, but what was expected to become an extraordinary difficult year for Panamax owners has so far proven to be a somewhat positive surprise. Time charter equivalent earnings have crossed the thin red line and moved into positive territory beyond the point of just covering OPEX. Driven strongly by the South American grain season, the strong demand for tonnage has led to increased earnings as well as congestion around the key grain exporting ports in Argentina and Brazil. On the overall level Algeria, Iran and South Korea currently increase imports, whereas top importer, Egypt, slashed its demand due to tightening FOREX reserves and higher focus on domestic supplies.
Supramax earnings have also been lifted as a result of increased South American demand, whereas even a large demand for the iron ore and coal transporting sea-stallions, Capesizes have not been enough to support sustainable rates due to a massive supply of vessels in this segment. Earnings for Capesize vessels averaged last year USD 7,680 per day; at the poor year-to-date earnings of at USD 6,300 per day, the Capes continue to be impacted by the overhang of tonnage.
As the Chinese imports of coal reach record-high volumes, the question for ship-owners is: From where the bulk of the increased imports will be transported from? Nearby Indonesia has historically been the main trading partner with Australia coming in second.
In the last three months, the balance has tipped in favour of Australia, which is good news for the shipping industry, as Australian coal has to travel 50% longer. As a consequence, the tonne mile demand of Australian exports to China was almost double that of Indonesia’s in January and February 2013. Australia and Indonesia made up 61% of the seaborne tonne miles demand for coal into China in 2012. The low demand in February is primarily due to the Golden week.
In 2012, China imported 53.7 million tons of coking coal, and 180.8 million tons of thermal coal, making thermal coal the main contributor to seaborne import demand of coal into China. As the growth rates for the two types of coal were similar in 2012, the main growth factor came from the demand for increased power generation. Affecting the exports from Australia, the world’s largest dry bulk commodity exporter, this year has been weather-related issues around iron ore export ports, most of all Port Hedland, as well as the coal ports in the Eastern parts of Australia. Due to cyclone and heavy rain, importers have to some extent found themselves in need of seeking alternatives for the shortfall of exports from Australia. Unless importing steel mills and traders decide to run down stocks the adverse weather conditions can prove to be one of the supporting factors behind the climb in March earnings alongside the development in coal demand export origins" BIMCO concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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Showing 4316 to 4320 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Economic Council, Georgia
- Minerals Council of Australia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- VISA Power Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Planning Commission, India
- Essar Steel Hazira Ltd - India
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