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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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Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
Thursday, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
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- MS Steel International - UAE
- ICICI Bank Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
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