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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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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
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- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
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