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