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