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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, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
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- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
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