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