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