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Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
 BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average rates will be in the range of USD 3,000-9,000 per day. Panamax T/C average rates will stay around USD 5,000-9,000 per day. For the Supramax segment, BIMCO forecasts freight rates in the range of USD 6,000-9,000 per day, whereas Handysize freight rates are expected around USD 5,000-7,500 per day.
Delivering its outlook on the market, BIMCO noted that “India was the beam of sunlight in an otherwise dark coal market in 2014. Going forward more support could come from India. In China, the question that has been unanswered for a long time is will the lower and lower international iron ore price (-47% in 2014 and still falling some 15% in 2015) favour imports and eventually lead to largescale shutdown of inefficient low-quality Chinese iron ore mines? The jury is still out on that one. Facts are as follows: in 2014, the amount of domestically mined iron ore was up by 4.3% while the iron ore quality of the same went down from an estimated Fe-content of 21% in 2013 to 17% in 2014. Meanwhile iron ore imports with a Fe-content of 62% went up by 13.7% in 2014 from a year earlier”.
BIMCO added “will it become reality or remain a dream – and to what effect will it matter to the Capesize market? Australian exporters won the battle in 2014, much to the regret of the freight market. BIMCO expects that they will not let go of the lead, at the expense of long-haul shipping demand from Brazil. All mining majors have expansion plans in place for 2015 and 2016, and yet another Aussie, the new Roy Hill iron ore mine, will join them towards the end of 2015. The site is set for 55 million tonnes a year once fully operational”.
Meanwhile, as it notes, “Q2 is the peak season for South American exports of soya. Volumes will go higher to the primary benefit of Panamax and Supramax; whether freight rates will follow suit remains to be seen, as too many ships being in position for the season will cap the upside, just as we saw last year. For the Capesizes to find support, the seasonality must kick in here too. Iron ore exports from both Australia and Brazil are expected to increase as we move further into the year. Overall, iron ore volumes are expected to be higher for the full year, though not as strong as in 2014 where several factors moved in a positive direction. Russian wheat exports are on course to beat last season’s volume. However, exports from July to January have been strong enough to have already eclipsed last year’s total, so it seems that more troubles lie ahead for the already reeling Black Sea market as Russian export restrictions kick in”.
Supply
Meanwhile, in terms of supply, “demolition of dry bulk tonnage was relatively modest for a long time when considering the fundamental conditions of the freight market. However, recent extremely poor freight markets have stirred it up. At the end of February, 68 ships with a combined capacity of 5 million DWT had been demolished since the turn of year, out of which half were of Capesize capacity with an average age of 21 years. This compares to the 27 years average age of the Handysizes going for recycling. The tough trades of the Capesizes cut their commercial life shorter than that of Handysizes. The extremely low earnings has pushed more ships out of the market. The youngest ships being recycled overall were a pair of Panamaxes built in 1998, followed by five Capesizes built in 1996. At the other end of the scale, 20 Handysizes built between 1980 and 1985 were recycled. During the first two months of 2015, 11 million DWT of new dry bulk capacity were delivered into the active fleet. As BIMCO expected, we have seen the majority being newbuilt Supramaxes whereas the delivery pace of Panamax is now coming slightly down. 54 Handymaxes/Supramaxes have already been delivered by the end of February. This compares to 199 for the full year of 2014 [40,000-67,000 DWT].
In the Panamax segment, just 22 ships have been delivered by end-February, as compared to 160 ships (4.6% in annual fleet growth) for the full year of 2014 [67,000-100,000 DWT]. For 2015 as a whole, Panamax deliveries are estimated to go as high as 150 ships (3.3% in annual fleet growth). The troubles in the freight markets have for once also been seen in the order book where interest for new contracts has been subdued. The overall order book dropped to 158.2 million DWT from 168.6 three months ago. It remains an imperative for a sustainable freight market recovery that new contracts remain scarce for an extended amount of time. Fortunately, the newbuilding prices offered by the shipyards are still 10-15% above the lowest of 2012-2013 and are not seen as very attractive”, BIMCO concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
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- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Planning Commission, India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Australian Coal Association
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
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