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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, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Australian Coal Association
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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