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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, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
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- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
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