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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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Friday, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has fell US$ ...
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- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Planning Commission, India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
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