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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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Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
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- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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