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