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