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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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Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
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- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- The University of Queensland
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
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