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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, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
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