We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO predicted yesterday that the elevated level of Capesize Time Charter average rates will remain volatile and stay around USD 15,000-30,000 per day. Panamax TC average rates will stay in the region of USD 9,000-16,000 per day. For the Supramax segment, BIMCO forecasts freight rates in the USD 11,000-17,000 per day interval, whereas Handysize rates is expected to stay strong in the region of USD 9,000-12,000 per day.
According to the relative report, BIMCO noted that 2013 was a truly amazing year for Chinese iron ore imports. "A growth rate of 10.8% for the first 11 months as compared to the same period last year is solid. Evident also from the freight rate development in the Capesize market, the last 5 months have been exceptional, with 17.8% y-o-y growth for July-November. On top of that, coal imports (not all seaborne) have grown by 15.7% in January-October compared to the same period last year. As we move into a seasonally stronger part of the year for bulk trades, the November and December indications that are already visible point towards more strong numbers.
So far, we have not recorded any major impact on demand due to the announced 3% Chinese import tax on low calorific coal that should be in place now. Indonesia is expected to be affected by this to some extent, as almost all lignite imports into China originate from Indonesia".
It added that "as regards freight rates, the smaller segments of Handysize and Supramax have enjoyed an almost unbroken run of better earnings over a sustained period. Both segments are propelled forward by a strong Atlantic market, mainly driven by front-haul routes out of the US Gulf to Continental Europe and the North Coast of South America, mostly carrying grain.
Not since the middle of last year have we seen average Handysize rates above USD 10,000 per day. For Supramax, the stronger demand has meant average freight rates have gone from USD 10,000 per day to USD 15,000 per day. The 6-month TC rate has also gone up, indicating that the market does not believe this strength is about to instantly evaporate.
However, it will not last for very long if we use the same argument and look at the 1 and 3 year TC rates that have barely moved. When looking at Capesize TC rates, six months deals in the period market were quoted at USD 31,000 in September. As the market fell back during October to stabilise at the USD 15-20,000 per day interval during November, the breakaway in the short period market was neutralised. At the end of November, TC rates, regardless of duration, stood at the same level – indicating uncertainty about the future direction. FFA rates, on the other hand, are not quite as optimistic, but equally volatile when offering around USD 13,000 for a Q1-2014 contract in early December", BIMCO's analysts stated.
Supply
Meanwhile, in terms of tonnage supply, BIMCO said that "the fleet has now grown by 5.3% (55 million DWT) in 2013 with a further 7 million DWT still set for delivery in 2013. This means the full year fleet growth could hit 6% as the higher freight market has limited demolition activity. Since 1 July, just 6.3 million DWT has left the active fleet on that account.
Fleet growth in the Capesize segment has been going steeply South since the middle of last year, where the segment growth during the previous year reached 20%. Since then, the slow inflow of new tonnage in 2013 has left Capesize fleet growth at just 5% in October 2013. Panamax has been the fastest growing segment in 2013, but at a significantly lower peak level than the Capesize segment. It is more positive now for the Handysize segment, which has seen the fleet decrease in size this year as the demolition of 5.5 million DWT has offset the delivery of 5.3 million DWT.
The slowing trend in fleet growth will continue into next year and has not been wiped out completely by the hefty ordering activity we have witnessed in past two months – 136 new ships with a capacity of 13.3 million DWT. Amongst them were 20 VLOCs, 16 Capesizes and 24 Handysizes. Year-to-date contracting activity stand at 63.2 million DWT, this is on course to become higher for the full year than the combined bulk carrier contracting activity during 2011-2012" it said.
Outlook
For 2014, BIMCO expects that demand growth will range between 4½ and 6%, indicating that such strong growth will outstrip supply and bring about an improvement to the fundamental balance. According to BIMCO's head of shipping analysis, Peter Sand, "coal exports from the US have been growing since 2007. However, after a record-setting year in 2012, the numbers appear to be dwindling. Even though March this year set a record with 12.3 million tons, 7% higher than the record set in June 2012, it is not representative of the whole year. The exported total in the first nine months of 2013 is 7.5%, lower than that of the same time last year. Seen on a broader scale, however, the 2013 numbers are still around 100% higher than they were only 4 years ago. In combination with the long sailing distances that most US coal export routes hold, the trade has established itself as a key element in the market, also in the future" he said.
As such, "in the light of lower domestic demand for coal in the US due to the excess production of cheap gas, BIMCO expects US coal producers to become a mainstay in the Atlantic market. Down the road, we may also see coal exports from US West Coast ports.
Going forward, EIA expect US coal exports to remain elevated in 2014 too. Driven by the increased consumption of gas within the US at the expense of coal, producers opt for exporting to Europe and Asia. However, productions costs in the US require relatively high sales prices, and with coal being abundant, particularly in the Asian region, the potential seems to be capped for the near-term future. Despite slower Chinese GDP growth in 2014, commodity imports could very well stay strong. This is due to the factors of diversity in suppliers, lower commodity prices, and the lower quality of domestically produced iron ore and thermal coal", the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
|
|
|
Showing 3926 to 3930 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- The University of Queensland
- Deloitte Consulting - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
|
| |
| |
|
