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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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Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
Tuesday, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
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- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Central Electricity Authority - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Aditya Birla Group - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
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