We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
 Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, which is going through some interesting times right now. European coal demand has been in a slump ever since early 2009, where seaborne demand fell by 14 million tons from the first to the second quarter. Import volumes during the last three quarters of 2011 indicated that seaborne coal demand was recovering, but the development stalled somewhat in 2012. Looking on a country basis, the nation with the biggest decline was Italy, with annual seaborne imports being roughly 8 million tons lower today than before the financial crisis. France has also decreased its imports by around 4-5 million tons annually. The United Kingdom and Spain have weakened as well, but these countries seem to be on a rebound, with volumes being slightly below pre-financial crisis levels. The Netherlands and Germany have had relatively stable import numbers since 2005.
The bulk of seaborne coal going to Europe comes from North America, Colombia and Russia. The United States and Colombia have doubled their exports to Europe, while Russia has maintained its share of the European demand. Russian coal is shipped from both Russian and Latvian ports; Colombian coal is primarily shipped from the Caribbean, while US coal is primarily shipped from the Atlantic Coast and the Mexican Gulf. The drop in European seaborne demand for coal did not affect these countries, but rather South Africa. From being the single largest coal exporter to Europe with 52.0 million tons in 2005, the country has become a footnote, with 13.6 million tons in 2011. This represents bad business for the shipping industry, since the sailing distance from Richards Bay to Rotterdam is 98% longer than from Hampton Roads and 61% longer than from Puerto Bolivar.
Although European coal imports didn’t tell a particular positive story for shipping, US exports most certainly did. We expect to publish a story on this within the next couple of weeks.
On a more general note regarding the bulk market, China is expected to increase its imports of wheat, as sub-standard storage facilities have damaged a part of the huge Chinese stockpiles. Traders said that China is seeking to increase imports when global prices are in a slump. Current forward prices indicate that this may happen during the third quarter of 2013. According to Chinese customs statistics, the main exporters of wheat to China are Australia, Canada and United States, the latter two providing significant tonne miles.
Meanwhile, Argentina is exporting record high volumes of grains; CRSL reported that Argentina exported 4.86 million tons of grains in March – the highest number ever for a single month. This gave a spike in Panamax rates with the BPI staying just below the psychological barrier of USD 10,000 per day in March and April, but earnings are now slightly lower at around USD 7,000 per day. In our last report, we predicted that Panamax rates would stay in the USD 5,000-10,000 per day territory; going forward seasonal events like Argentinian exports are likely to provide for the upside ticks.
SUPPLY
New dry bulk deliveries walk the anticipated line and have now reached 29 million DWT. Meanwhile, 11 million DWT have been sold for recycling, which brings the year-to-date fleet growth up to 2.8%. The inflow is seen primarily in the Panamax segment, where 136 (in 2012: 162) new vessels are keeping Panamax fleet growth high. Simultaneously, the Capesize segment only saw 48 (in 2012: 115) new vessels coming on stream, eventually easing some of the pain from the current overcapacity.
Average age and size of the demolished tonnage is 28 years and 60,000 DWT. In line with the development seen in the last couple of years, the average age is still trending down – whereas the average size is essentially unchanged. BIMCO forecasts a slightly lower level of tonnage being demolished in 2013 as compared to last year; however, it is still going to be the second-largest year on record. The solid level of demolition prices will inspire owners to consider recycling, rather than trading their old tonnage in a very volatile market without certainty of sustainable freight rates and against more energy efficient tonnage.
As regards the orderbook, it’s also moving in the right direction in spite of the recent flurry of new orders for more fuel-efficient tonnage. During the past 10 weeks the number of newbuilding orders in the book has come down from 1,599 to 1,548. Finally, on the ordering side, strong interest in Capesizes remains evident, with 62 new orders in 2013. A total of 18 million DWT has been ordered in the year so far, with March and April seeing total new orders placed in excess of 4.5 million DWT each month.
OUTLOOK
The Summer lull is creeping up on dry bulk shipping demand following the successful South American grain season. Fortunately, solid demand is keeping spirits up in the dry bulk industry, while the severe extent of overcapacity is pushing the date for a full-blown recovery of earnings into a somewhat distant future. For now the market is getting more and more spot focused, as no owners want to commit tonnage for longer terms at offered levels. Don’t look at the paper market for any support, because you won’t find it. FFA indications (10/6) for Capesize tonnage go to the tune of USD per day: Q3-13, Q4-13, Cal 14 and Cal 15: 7,550, 12,000, 11,450 and 13,700 and for Supramax the indications go as follows in USD per day for the same dates: 7,900, 8,400, 8,600 and 8,900. USD per day in the spot market (10/6): Capesize for 5,571 and Supramax for 9,307.
Expect the unexpected from the dry bulk market seems to be the message passed on in recent years – and today is no different, as Handysize tonnage is earning USD 10,900 per day on an Atlantic round voyage whereas Capesizes are struggling to get a 1 year T/C fixed at USD 10,500 per day if at all. With respect to freight rates for Panamax and Supramax tonnage, they have lost ground since the beginning of March.
To sum up, our forecast for the coming 6 weeks: BIMCO holds the view that Capesize TC average rates are expected to remain subdued around USD 4,500-7,500 per day. Panamax is expected to stay in the USD 4,500-8,000 per day interval. For the Supramax segment, BIMCO forecasts freight rates in the USD 7,000-10,000 per day interval, whereas Handysize rates are forecast to stay at the interval of USD 6,000-8,500 per day.
Source: BIMCO / Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 30 July 13
KOMIPO INVITES BIDS FOR 520,000 MT OF 5,700 KCAL/KG COAL ON NAR BASIS FOR H1, 2014
COALspot.com : Korea Midland Power Co., Ltd. has invited bids for 520,000 Metric Tons (MT) of coal with calorific value 5,700 kcal/kg on NAR basis f ...
Tuesday, 30 July 13
AUSTRALIA'S NEWCASTLE SHIPPED 12.58 PERCENT LESS COAL W-O-W
COALspot.com: Newcastle port in Australia has loaded 2,945,848 tons of coal for the week ended 0700 hours 29 July 2013, Newcastle Port Corp. s ...
Monday, 29 July 13
INDONESIA'S ENERGY NEEDS COULD SPELL GOOD NEWS FOR TANKER OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite abundant energy resources, Indonesia has still failed meet its own demand, which led to a rising import of crude. According to the latest we ...
Sunday, 28 July 13
SUB-BIT INDONESIA COAL SWAP UP SLIGHTLY FOR SEPTEMBER CARGOES
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average September 2013 delivery slightly up on day and week but fell on month on ...
Saturday, 27 July 13
CEPL INDIA TO BAG 0.3 MILLION TONS OF COAL SUPPLY ORDER FROM TNPL
COALspot.com - An India based coal trader Coastal Energy Private Limited has offered the lowest price of US$ 73.00 per metric ton for calorific valu ...
|
|
|
Showing 4191 to 4195 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Economic Council, Georgia
- The Treasury - Australian Government
- Australian Coal Association
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
|
| |
| |
|
