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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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Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
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- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Planning Commission, India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
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