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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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Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
Friday, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
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- VISA Power Limited - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
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