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