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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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Tuesday, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
Sunday, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
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- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Planning Commission, India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Economic Council, Georgia
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
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