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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, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
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- Interocean Group of Companies - India
- London Commodity Brokers - England
- Planning Commission, India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Borneo Indobara - Indonesia
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