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Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization said in a report yesterday, that Capesize TC average rates are expected to stay elevated around USD 4,500-8,500 per day. Panamax is expected to be found in the USD 3,500-8,500 per day interval. For the Supramax segment, BIMCO forecasts freight rates to remain in the USD 6,000-9,500 per day interval, whereas Handysize rates are forecast to stay at the interval of USD 5,000-8,000 per day.
Justifying its predictions, BIMCO said that "following the scary dip in the strength of the Chinese steel market during third quarter 2012 – a dip that landed a huge blow to an already shaken shipping industry confidence – steel demand now appears to be back on track. Going forward, BIMCO expect Chinese iron ore demand to be amongst the strong demand drivers in 2013" it said.
The report added that "global steel production reached 1,548 million tons last year – the highest figure ever. Asia increased its production by 2.6% compared to 2011, where China and India in particular accounted for the expansion. North American steel production increased by 2.5%, but the sheer size of their output is only one-eighth of Asia’s. The EU, producing slightly more than North America, cut back on its production of steel by 4.5%. Going forward, BIMCO expects that a bettering of the European Economy will normalise crude steel production, bringing it up to a higher level and thus also leading to higher demand for iron ore from Europe. The demand for coal may be affected by the new Chinese fiveyear energy plan, which outlines a target of limiting the annual primary energy consumption to 4 billion tonnes of coal equivalent by 2015. The cap could turn out as a positive story for the dry bulk segment, as Chinese coal is of a lower quality than imported coal. If coal plants want to increase their power output for a capped amount of coal, their best option is to use the imported coal. Even though we are seeing a pretty picture of demand, overcapacity in the market prevents freight rates from flying high" it noted.
In terms of supply, 2013 marks a new start in terms of a downward sloping trend. This stands in very positive opposition to the case of the previous four years with escalating deliveries. According to BIMCO, "2013 is likely to see 66 million DWT delivered, representing a significantly lower level than in 2012. Deliveries in January of 8.1 million DWT represent a 7-month high, as the slow-down in deliveries during the second half of 2012 was significant. This is in line with our forecast of a “front-end loaded” year, where the strongest inflow is expected to take place during the first half year. Throughout the whole of 2012, just 278 new contracts for dry bulkers were signed. This was the slowest contracting year since 2001, representing a much needed and very positive development. Owner’s hesitations were especially pronounced in the last four months of 2012. January, however, marks a new beginning, with a 12-months high level at 2.3 million DWT of fresh newbuilding orders. The tally is much impacted by the 8 Capesize orders at Chinese yards due for delivery in 2014 and 2015. BIMCO expects demolition activity to remain strong in 2013 at 3.6% of total fleet. This is building on top of 2011 and 2012, which saw strong activity at 4.0% and 5.2% of the total dry bulk fleet being sold for demolition. The total dry bulk order book currently stands at 130.8 million DWT, a level not seen since May 2007. 52.6 million DWT (661 in numbers) represents Panamax tonnage (60,000-120,000 DWT), whereas 44.5 (207 in numbers) represent Capesize tonnage (+176,000 DWT). 45% of January deliveries landed in the Panamax segment whereas 32% entered the Capesize fleet" BIMCO said.
It added that "the combined sale and purchase activity (in numbers) in the three main shipping segments (dry bulk, tankers and containerships) were the highest on record since 2008 according to Vesselsvalue.com. But if you judge it by value, it was the lowest during the same period of time. Peaking in 2010 at USD 20 billion, the total sales value of 2012 was only USD 10 billion. The numbers are impacted by lower prices and a higher age of the traded assets. A total of 836 sales were concluded, out of which 452 were in the dry bulk segment, at a value of USD 5.2 billion. The Panamax and Capesize segments saw the largest increase of activity from 2011 to 2012 at 106% and 103% respectively".
In terms of demand, BIMCO expects that for 2013, the majority of the strong Chinese iron ore demand will benefit seaborne imports, as the preference for imported iron ore continues to be strong. In spite of a strong demand for this key commodity, earnings have been modest on the reference routes from Tubarão (Brazil) and Western Australia to Baoshan (China), reflecting an oversupply of Capesize vessels.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
Sunday, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
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- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
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