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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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Sunday, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
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- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- The University of Queensland
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
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