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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, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
Tuesday, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
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- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
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