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