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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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Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Indika Energy - Indonesia
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