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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, 23 April 13
INDONESIAN STATE OWNED COAL MINER SHIPPED 4 PERCENT MORE COAL IN 1Q
COALspot.com - PT. Bukit Asam, the Indonesian state owned coal miner shipped more coal in first quarter of this year compared to the same period in ...
Tuesday, 23 April 13
REALM CONTINUES AS 51% OWNER AND MANAGER OF THE KATINGAN RIA THERMAL COAL PROJECT
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced today that, the commercial way forward for the development of its 51% held Indonesian t ...
Tuesday, 23 April 13
TIGERS REALM COAL HAS SOME OF THE WORLD'S BEST UNDEVELOPED COKING COAL ASSETS - EXECUTIVE CHAIRMAN
COALspot.com - “ During 2012, your Company has made very significant progress towards meeting its stated objective of becoming a global player ...
Tuesday, 23 April 13
AUSTRALIA'S NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 4.38 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,434,336 tons of thermal and coking coal for week ended 0700 hours 22 April 2013, Newca ...
Sunday, 21 April 13
INDONESIA - INDIA COAL FREIGHT RATES ARE FIRMING UP - CAPT. REDDY
COALspot.com – The BDI was up by 1.40 pct closed at 888 points week ended 19 April 2013. The Cape index was down by 2.45 pct closing at 1234 p ...
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- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
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