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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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Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
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