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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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Thursday, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
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- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- The University of Queensland
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
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