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Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk and tanker market segments. In the dry bulk market, there's room for optimism as a result of an expected sharp decline of newbuilding deliveries over the next two years. "With the same delivery ratio we have experienced over the last three years approximately 60 million dwt should be delivered this year, while the order book for 2014 is 25 million dwt for the entire dry bulk sector" Frontline said.
According to the company's announcement, dry bulk transportation increased by around seven percent in 2012, however, due to the high number of new vessels entering the market, fleet utilization decreased. Given a net fleet growth of approximately 11 percent, the estimated utilization of the dry bulk fleet was on average 83 percent in 2012. Consequently spot earnings were low. The capesize and panamax segments both earned on average approximately $7,650 per day according to The Baltic Exchange. Around 220 capesizes and 375 panamaxes were delivered in 2012, still this was 30 percent lower than the official order book at the beginning of the year. At the same time approximately 90 capesizes and 135 panamaxes were sold for scrap. For the dry bulk fleet as a whole 35 million dwt were scrapped against 95 million dwt of deliveries.
Moving on to the more positive prospects, Frontline noted that "the low spot market presently experienced and relatively high scrap prices should encourage more scrapping. Most forecasters are expecting scrapping to remain at similar levels as last year and consequently net fleet growth could be as low as five percent during 2013. The steel industry and energy coal for utilities are accounting for almost 70 percent of dry bulk transportation. For several years the importance of increased steel production and energy consumption in China and the increased dependence of this country for the dry bulk market have been well known. Also in 2012 iron ore and coal imports showed a remarkable growth. Iron ore increased by around eight percent while coal imports increased by almost 30 percent year on year. This was in spite of a much slower growth in steel and energy consumption (2 percent and 3.4 percent respectively)" said Frontline.
It added that "there are a few factors which make most analysts fairly optimistic for dry bulk demand growth going forward. Quality of Chinese domestic iron ore production is on a steady declining trend. Since 2007 China has invested roughly $85 billion in iron ore mining. Over the same period investments per effective ton iron ore produced has increased from $15 per ton in 2007 to $60 per ton in 2012. Adjusting for falling Fe content, effective iron ore production in 2012 is broadly at the same level as in 2007. Even in a modest steel growth scenario for China most forecasters believe in a continued strong growth in iron ore imports. According to Fearnleys the Capesize fleet (150-200' dwt) totaled 1022 vessels at the end of the fourth quarter of 2012, an increase of 3 vessels from the previous quarter. The order book counted 94 vessels at the end of the fourth quarter compared to 106 vessels the previous quarter, representing 9.2 percent of the Capesize fleet" the ship owner concluded.
In the crude tanker market, Frontline noted that "current market forward rates are approximately $12,000 per day in the first quarter of 2013. Bunkers at Fujairah averaged $615/mt in the fourth quarter of 2012 compared to $650/mt in the third quarter of 2012. Bunker prices varied between a low of $593/mt on November 5th and a high of $655/mt on October 1st. The International Energy Agency's ("IEA") February 2013 report stated an OPEC oil production, including Iraq, of 30.9 million barrels per day (mb/d) in Q4. This was a decrease of 0.5 mb/d compared to the third quarter of 2012, due to lower Saudi Arabian production in November and December. The IEA estimates that world oil demand averaged 91.0 mb/d in the fourth quarter of 2012, which is an increase of 0.8 mb/d compared to previous quarter and the IEA estimates that world oil demand averaged approximately 89.8 mb/d in 2012, representing an increase of 1.1 percent or 1.0 mb/d from 2011. 2013 demand is expected to be 90.7 mb/d.
The VLCC fleet totalled 622 vessels at the end of the fourth quarter of 2012, up from 617 vessels at the end of the previous quarter. 11 VLCCs were delivered during the quarter, six were removed. The order book counted 81 vessels at the end of the fourth quarter, down from 91 orders from the previous quarter. The current order book represents approximately 13 percent of the VLCC fleet. According to Fearnleys, the single hull fleet is 17 vessels, five less than last quarter.
The Suezmax fleet counts 468 vessels at the end of the fourth quarter, up from 462 vessels at the end of the previous quarter. 14 vessels were delivered during the quarter whilst eight were removed. The order book counted 72 vessels at the end of the fourth quarter, which represents 15 percent of the total fleet. According to Fearnley's, the single hull fleet has been reduced from nine to five vessels" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- The University of Queensland
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
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