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.
|
|
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
|
|
|
Showing 3971 to 3975 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- MS Steel International - UAE
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
|
| |
| |
|
