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Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk and tanker market segments. In the dry bulk market, there's room for optimism as a result of an expected sharp decline of newbuilding deliveries over the next two years. "With the same delivery ratio we have experienced over the last three years approximately 60 million dwt should be delivered this year, while the order book for 2014 is 25 million dwt for the entire dry bulk sector" Frontline said.
According to the company's announcement, dry bulk transportation increased by around seven percent in 2012, however, due to the high number of new vessels entering the market, fleet utilization decreased. Given a net fleet growth of approximately 11 percent, the estimated utilization of the dry bulk fleet was on average 83 percent in 2012. Consequently spot earnings were low. The capesize and panamax segments both earned on average approximately $7,650 per day according to The Baltic Exchange. Around 220 capesizes and 375 panamaxes were delivered in 2012, still this was 30 percent lower than the official order book at the beginning of the year. At the same time approximately 90 capesizes and 135 panamaxes were sold for scrap. For the dry bulk fleet as a whole 35 million dwt were scrapped against 95 million dwt of deliveries.
Moving on to the more positive prospects, Frontline noted that "the low spot market presently experienced and relatively high scrap prices should encourage more scrapping. Most forecasters are expecting scrapping to remain at similar levels as last year and consequently net fleet growth could be as low as five percent during 2013. The steel industry and energy coal for utilities are accounting for almost 70 percent of dry bulk transportation. For several years the importance of increased steel production and energy consumption in China and the increased dependence of this country for the dry bulk market have been well known. Also in 2012 iron ore and coal imports showed a remarkable growth. Iron ore increased by around eight percent while coal imports increased by almost 30 percent year on year. This was in spite of a much slower growth in steel and energy consumption (2 percent and 3.4 percent respectively)" said Frontline.
It added that "there are a few factors which make most analysts fairly optimistic for dry bulk demand growth going forward. Quality of Chinese domestic iron ore production is on a steady declining trend. Since 2007 China has invested roughly $85 billion in iron ore mining. Over the same period investments per effective ton iron ore produced has increased from $15 per ton in 2007 to $60 per ton in 2012. Adjusting for falling Fe content, effective iron ore production in 2012 is broadly at the same level as in 2007. Even in a modest steel growth scenario for China most forecasters believe in a continued strong growth in iron ore imports. According to Fearnleys the Capesize fleet (150-200' dwt) totaled 1022 vessels at the end of the fourth quarter of 2012, an increase of 3 vessels from the previous quarter. The order book counted 94 vessels at the end of the fourth quarter compared to 106 vessels the previous quarter, representing 9.2 percent of the Capesize fleet" the ship owner concluded.
In the crude tanker market, Frontline noted that "current market forward rates are approximately $12,000 per day in the first quarter of 2013. Bunkers at Fujairah averaged $615/mt in the fourth quarter of 2012 compared to $650/mt in the third quarter of 2012. Bunker prices varied between a low of $593/mt on November 5th and a high of $655/mt on October 1st. The International Energy Agency's ("IEA") February 2013 report stated an OPEC oil production, including Iraq, of 30.9 million barrels per day (mb/d) in Q4. This was a decrease of 0.5 mb/d compared to the third quarter of 2012, due to lower Saudi Arabian production in November and December. The IEA estimates that world oil demand averaged 91.0 mb/d in the fourth quarter of 2012, which is an increase of 0.8 mb/d compared to previous quarter and the IEA estimates that world oil demand averaged approximately 89.8 mb/d in 2012, representing an increase of 1.1 percent or 1.0 mb/d from 2011. 2013 demand is expected to be 90.7 mb/d.
The VLCC fleet totalled 622 vessels at the end of the fourth quarter of 2012, up from 617 vessels at the end of the previous quarter. 11 VLCCs were delivered during the quarter, six were removed. The order book counted 81 vessels at the end of the fourth quarter, down from 91 orders from the previous quarter. The current order book represents approximately 13 percent of the VLCC fleet. According to Fearnleys, the single hull fleet is 17 vessels, five less than last quarter.
The Suezmax fleet counts 468 vessels at the end of the fourth quarter, up from 462 vessels at the end of the previous quarter. 14 vessels were delivered during the quarter whilst eight were removed. The order book counted 72 vessels at the end of the fourth quarter, which represents 15 percent of the total fleet. According to Fearnley's, the single hull fleet has been reduced from nine to five vessels" it concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 23 April 13
INDONESIAN STATE OWNED COAL MINER SHIPPED 4 PERCENT MORE COAL IN 1Q
COALspot.com - PT. Bukit Asam, the Indonesian state owned coal miner shipped more coal in first quarter of this year compared to the same period in ...
Tuesday, 23 April 13
REALM CONTINUES AS 51% OWNER AND MANAGER OF THE KATINGAN RIA THERMAL COAL PROJECT
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced today that, the commercial way forward for the development of its 51% held Indonesian t ...
Tuesday, 23 April 13
TIGERS REALM COAL HAS SOME OF THE WORLD'S BEST UNDEVELOPED COKING COAL ASSETS - EXECUTIVE CHAIRMAN
COALspot.com - “ During 2012, your Company has made very significant progress towards meeting its stated objective of becoming a global player ...
Tuesday, 23 April 13
AUSTRALIA'S NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 4.38 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,434,336 tons of thermal and coking coal for week ended 0700 hours 22 April 2013, Newca ...
Sunday, 21 April 13
INDONESIA - INDIA COAL FREIGHT RATES ARE FIRMING UP - CAPT. REDDY
COALspot.com – The BDI was up by 1.40 pct closed at 888 points week ended 19 April 2013. The Cape index was down by 2.45 pct closing at 1234 p ...
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- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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