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Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization said in a report yesterday, that Capesize TC average rates are expected to stay elevated around USD 4,500-8,500 per day. Panamax is expected to be found in the USD 3,500-8,500 per day interval. For the Supramax segment, BIMCO forecasts freight rates to remain in the USD 6,000-9,500 per day interval, whereas Handysize rates are forecast to stay at the interval of USD 5,000-8,000 per day.
Justifying its predictions, BIMCO said that "following the scary dip in the strength of the Chinese steel market during third quarter 2012 – a dip that landed a huge blow to an already shaken shipping industry confidence – steel demand now appears to be back on track. Going forward, BIMCO expect Chinese iron ore demand to be amongst the strong demand drivers in 2013" it said.
The report added that "global steel production reached 1,548 million tons last year – the highest figure ever. Asia increased its production by 2.6% compared to 2011, where China and India in particular accounted for the expansion. North American steel production increased by 2.5%, but the sheer size of their output is only one-eighth of Asia’s. The EU, producing slightly more than North America, cut back on its production of steel by 4.5%. Going forward, BIMCO expects that a bettering of the European Economy will normalise crude steel production, bringing it up to a higher level and thus also leading to higher demand for iron ore from Europe. The demand for coal may be affected by the new Chinese fiveyear energy plan, which outlines a target of limiting the annual primary energy consumption to 4 billion tonnes of coal equivalent by 2015. The cap could turn out as a positive story for the dry bulk segment, as Chinese coal is of a lower quality than imported coal. If coal plants want to increase their power output for a capped amount of coal, their best option is to use the imported coal. Even though we are seeing a pretty picture of demand, overcapacity in the market prevents freight rates from flying high" it noted.
In terms of supply, 2013 marks a new start in terms of a downward sloping trend. This stands in very positive opposition to the case of the previous four years with escalating deliveries. According to BIMCO, "2013 is likely to see 66 million DWT delivered, representing a significantly lower level than in 2012. Deliveries in January of 8.1 million DWT represent a 7-month high, as the slow-down in deliveries during the second half of 2012 was significant. This is in line with our forecast of a “front-end loaded” year, where the strongest inflow is expected to take place during the first half year. Throughout the whole of 2012, just 278 new contracts for dry bulkers were signed. This was the slowest contracting year since 2001, representing a much needed and very positive development. Owner’s hesitations were especially pronounced in the last four months of 2012. January, however, marks a new beginning, with a 12-months high level at 2.3 million DWT of fresh newbuilding orders. The tally is much impacted by the 8 Capesize orders at Chinese yards due for delivery in 2014 and 2015. BIMCO expects demolition activity to remain strong in 2013 at 3.6% of total fleet. This is building on top of 2011 and 2012, which saw strong activity at 4.0% and 5.2% of the total dry bulk fleet being sold for demolition. The total dry bulk order book currently stands at 130.8 million DWT, a level not seen since May 2007. 52.6 million DWT (661 in numbers) represents Panamax tonnage (60,000-120,000 DWT), whereas 44.5 (207 in numbers) represent Capesize tonnage (+176,000 DWT). 45% of January deliveries landed in the Panamax segment whereas 32% entered the Capesize fleet" BIMCO said.
It added that "the combined sale and purchase activity (in numbers) in the three main shipping segments (dry bulk, tankers and containerships) were the highest on record since 2008 according to Vesselsvalue.com. But if you judge it by value, it was the lowest during the same period of time. Peaking in 2010 at USD 20 billion, the total sales value of 2012 was only USD 10 billion. The numbers are impacted by lower prices and a higher age of the traded assets. A total of 836 sales were concluded, out of which 452 were in the dry bulk segment, at a value of USD 5.2 billion. The Panamax and Capesize segments saw the largest increase of activity from 2011 to 2012 at 106% and 103% respectively".
In terms of demand, BIMCO expects that for 2013, the majority of the strong Chinese iron ore demand will benefit seaborne imports, as the preference for imported iron ore continues to be strong. In spite of a strong demand for this key commodity, earnings have been modest on the reference routes from Tubarão (Brazil) and Western Australia to Baoshan (China), reflecting an oversupply of Capesize vessels.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
Sunday, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
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- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
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- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
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- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Wilmar Investment Holdings
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- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
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