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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, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
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- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
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