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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, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
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- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
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