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.
|
|
Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
|
|
|
Showing 4381 to 4385 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
|
| |
| |
|
