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