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Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
 In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per day. The Panamax market is expected to hold on to recent gains and remain in the USD 5,000 – 10,000 per day range. In the Supramax market, BIMCO sees freight rates in the USD 7,000 – 11,000 per day, while Handysize rates are predicted to stay in the USD 6,500 – 9,000 interval on a daily basis.
According to the report, "the delivery pace is expected to come down as close to 25% of all the tonnage. BIMCO expects to see launched in 2013, has already been delivered during the first 11 weeks (20%) of the year. Should more than the expected amount of tonnage be built this will be a result of reduced slippage perhaps due to shipyard in dire need for cash paid down upon delivery. This is seen as plausible scenario but not our base-case.
For mysterious reasons the newbuilding prices for dry bulk tonnage seems to have flatten out in the course of the past 4-5 months whereas prices for tanker tonnage still seems to fade. This trend regarding dry bulk tonnage has been most significant for Capesize tonnage. This may have spurred some owners to “fish at the bottom of the market”, given some reason behind the recent Capesize order rush. From the demand side BIMCO expects “more of the same”, which is solid volumes in grains and coal that will eventually lift freight rates beyond the level of 2012. With Capesize as the exception, strong volumes seem to support higher rates in the three smaller vessel segments – not sentiments" BIMCO said.
In the supply side, the first 11 weeks of the year have seen the delivery of 17 million dwt, offset by 6 million dwt being recycled. "It took just 7½ weeks to deliver the same amount last year, but the slower delivery pace is not impacting the fundamental balance between tonnage demand and vessel supply quite yet. And the reason for this? It’s simple: following four years in a row with higher inflow of tonnage capacity outpacing demand, it does take a bit more than just a few months of market improvements to affect earnings significantly. But we are now for the first time in five years moving in the right direction.
Dry bulk demolition activity hasn’t been concentrated on any particular sub-segment. Just like the previous years, the average vessel sold for demolition was of 59,000 DWT. In 2013, the age has so far been 27 years which is about one year younger than last year. Bangladesh has taken the lion’s share of this, buying 2 million DWT paying around USD 420 per ltd,
which is 5% more than offered for the average dry bulk vessel sold for recycling", BIMCO said.
It added that "on the contracting side, CRSL records new contracts for 76 vessels of a total capacity of 7.5 million DWT. For some reason 30 Capesize vessels are amongst the new orders, as if the Capesize fleet was in desperate need for new tonnage. In 2012 a total of 31 new Capesize orders were placed. Bear in mind that the Capesize fleet has double during the past 5½ years – from 756 to 1,513 today, prior to that the doubling time for a much smaller fleet was 13½ years. Fortunately the launches of all these new orders are not expected before 2015. Of the recent Capesize orders, 75 percent have landed at Chinese yards and believed to be some kind of an ECO-design, with a still unknown improved fuel-efficiency. Taking some of the side-orders have been the 2012 Japanese merger of Universal Shipbuilding and IHIMU into Japan Marine United, which today holds the second largest order book amongst the Japanese yard groups - second only to Oshima Shipbuilding Co." it noted.
Meanwhile, in the demand-side of things, "the first couple of months have been challenging for all vessel sizes, but what was expected to become an extraordinary difficult year for Panamax owners has so far proven to be a somewhat positive surprise. Time charter equivalent earnings have crossed the thin red line and moved into positive territory beyond the point of just covering OPEX. Driven strongly by the South American grain season, the strong demand for tonnage has led to increased earnings as well as congestion around the key grain exporting ports in Argentina and Brazil. On the overall level Algeria, Iran and South Korea currently increase imports, whereas top importer, Egypt, slashed its demand due to tightening FOREX reserves and higher focus on domestic supplies.
Supramax earnings have also been lifted as a result of increased South American demand, whereas even a large demand for the iron ore and coal transporting sea-stallions, Capesizes have not been enough to support sustainable rates due to a massive supply of vessels in this segment. Earnings for Capesize vessels averaged last year USD 7,680 per day; at the poor year-to-date earnings of at USD 6,300 per day, the Capes continue to be impacted by the overhang of tonnage.
As the Chinese imports of coal reach record-high volumes, the question for ship-owners is: From where the bulk of the increased imports will be transported from? Nearby Indonesia has historically been the main trading partner with Australia coming in second.
In the last three months, the balance has tipped in favour of Australia, which is good news for the shipping industry, as Australian coal has to travel 50% longer. As a consequence, the tonne mile demand of Australian exports to China was almost double that of Indonesia’s in January and February 2013. Australia and Indonesia made up 61% of the seaborne tonne miles demand for coal into China in 2012. The low demand in February is primarily due to the Golden week.
In 2012, China imported 53.7 million tons of coking coal, and 180.8 million tons of thermal coal, making thermal coal the main contributor to seaborne import demand of coal into China. As the growth rates for the two types of coal were similar in 2012, the main growth factor came from the demand for increased power generation. Affecting the exports from Australia, the world’s largest dry bulk commodity exporter, this year has been weather-related issues around iron ore export ports, most of all Port Hedland, as well as the coal ports in the Eastern parts of Australia. Due to cyclone and heavy rain, importers have to some extent found themselves in need of seeking alternatives for the shortfall of exports from Australia. Unless importing steel mills and traders decide to run down stocks the adverse weather conditions can prove to be one of the supporting factors behind the climb in March earnings alongside the development in coal demand export origins" BIMCO concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 14 May 13
KALIMANTAN COAL
Press Release : After a very successful conference in 2012, the second annual event will address latest market developments and address the future p ...
Tuesday, 14 May 13
NEWCASTLE PORT'S COAL EXPORTS FALL 6.83 PERCENT
COALspot.com - Newcastle port in Australia has loaded 2,771,891 tons of thermal and coking coal for week ended 0700 hours 13 May 2013, Newcast ...
Monday, 13 May 13
SGX ASIACLEAR OTC COAL SWAPS : RELATIVELY STABLE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.15 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 11 May 13
INDONESIA TO INDIA COAL FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK
COALspot.com - This week the market remained flat compared to last week. BDI slightly up 0.68 pct and closed at 884 points and the cape size index u ...
Friday, 10 May 13
U.S. PRODUCED TOTALED APPROXIMATELY 18.5 MMST OF COAL W/E 4 MAY 2013
COALspot.com - U.S. produced totaled approximately 18.5 million short tons (mmst) of coal in a week (For the week ended 4 May, 2013), EIA said in it ...
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- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- The University of Queensland
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
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