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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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Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
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- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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