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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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- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
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