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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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Thursday, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- PTC India Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
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