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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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Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
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- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- PTC India Limited - India
- Singapore Mercantile Exchange
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