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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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Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
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