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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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Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
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- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- White Energy Company Limited
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
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