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