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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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Thursday, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
Thursday, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
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- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- White Energy Company Limited
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
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