We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO predicted yesterday that the elevated level of Capesize Time Charter average rates will remain volatile and stay around USD 15,000-30,000 per day. Panamax TC average rates will stay in the region of USD 9,000-16,000 per day. For the Supramax segment, BIMCO forecasts freight rates in the USD 11,000-17,000 per day interval, whereas Handysize rates is expected to stay strong in the region of USD 9,000-12,000 per day.
According to the relative report, BIMCO noted that 2013 was a truly amazing year for Chinese iron ore imports. "A growth rate of 10.8% for the first 11 months as compared to the same period last year is solid. Evident also from the freight rate development in the Capesize market, the last 5 months have been exceptional, with 17.8% y-o-y growth for July-November. On top of that, coal imports (not all seaborne) have grown by 15.7% in January-October compared to the same period last year. As we move into a seasonally stronger part of the year for bulk trades, the November and December indications that are already visible point towards more strong numbers.
So far, we have not recorded any major impact on demand due to the announced 3% Chinese import tax on low calorific coal that should be in place now. Indonesia is expected to be affected by this to some extent, as almost all lignite imports into China originate from Indonesia".
It added that "as regards freight rates, the smaller segments of Handysize and Supramax have enjoyed an almost unbroken run of better earnings over a sustained period. Both segments are propelled forward by a strong Atlantic market, mainly driven by front-haul routes out of the US Gulf to Continental Europe and the North Coast of South America, mostly carrying grain.
Not since the middle of last year have we seen average Handysize rates above USD 10,000 per day. For Supramax, the stronger demand has meant average freight rates have gone from USD 10,000 per day to USD 15,000 per day. The 6-month TC rate has also gone up, indicating that the market does not believe this strength is about to instantly evaporate.
However, it will not last for very long if we use the same argument and look at the 1 and 3 year TC rates that have barely moved. When looking at Capesize TC rates, six months deals in the period market were quoted at USD 31,000 in September. As the market fell back during October to stabilise at the USD 15-20,000 per day interval during November, the breakaway in the short period market was neutralised. At the end of November, TC rates, regardless of duration, stood at the same level – indicating uncertainty about the future direction. FFA rates, on the other hand, are not quite as optimistic, but equally volatile when offering around USD 13,000 for a Q1-2014 contract in early December", BIMCO's analysts stated.
Supply
Meanwhile, in terms of tonnage supply, BIMCO said that "the fleet has now grown by 5.3% (55 million DWT) in 2013 with a further 7 million DWT still set for delivery in 2013. This means the full year fleet growth could hit 6% as the higher freight market has limited demolition activity. Since 1 July, just 6.3 million DWT has left the active fleet on that account.
Fleet growth in the Capesize segment has been going steeply South since the middle of last year, where the segment growth during the previous year reached 20%. Since then, the slow inflow of new tonnage in 2013 has left Capesize fleet growth at just 5% in October 2013. Panamax has been the fastest growing segment in 2013, but at a significantly lower peak level than the Capesize segment. It is more positive now for the Handysize segment, which has seen the fleet decrease in size this year as the demolition of 5.5 million DWT has offset the delivery of 5.3 million DWT.
The slowing trend in fleet growth will continue into next year and has not been wiped out completely by the hefty ordering activity we have witnessed in past two months – 136 new ships with a capacity of 13.3 million DWT. Amongst them were 20 VLOCs, 16 Capesizes and 24 Handysizes. Year-to-date contracting activity stand at 63.2 million DWT, this is on course to become higher for the full year than the combined bulk carrier contracting activity during 2011-2012" it said.
Outlook
For 2014, BIMCO expects that demand growth will range between 4½ and 6%, indicating that such strong growth will outstrip supply and bring about an improvement to the fundamental balance. According to BIMCO's head of shipping analysis, Peter Sand, "coal exports from the US have been growing since 2007. However, after a record-setting year in 2012, the numbers appear to be dwindling. Even though March this year set a record with 12.3 million tons, 7% higher than the record set in June 2012, it is not representative of the whole year. The exported total in the first nine months of 2013 is 7.5%, lower than that of the same time last year. Seen on a broader scale, however, the 2013 numbers are still around 100% higher than they were only 4 years ago. In combination with the long sailing distances that most US coal export routes hold, the trade has established itself as a key element in the market, also in the future" he said.
As such, "in the light of lower domestic demand for coal in the US due to the excess production of cheap gas, BIMCO expects US coal producers to become a mainstay in the Atlantic market. Down the road, we may also see coal exports from US West Coast ports.
Going forward, EIA expect US coal exports to remain elevated in 2014 too. Driven by the increased consumption of gas within the US at the expense of coal, producers opt for exporting to Europe and Asia. However, productions costs in the US require relatively high sales prices, and with coal being abundant, particularly in the Asian region, the potential seems to be capped for the near-term future. Despite slower Chinese GDP growth in 2014, commodity imports could very well stay strong. This is due to the factors of diversity in suppliers, lower commodity prices, and the lower quality of domestically produced iron ore and thermal coal", the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
...
Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
|
|
|
Showing 3946 to 3950 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
|
| |
| |
|
