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.
|
|
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
|
|
|
Showing 3971 to 3975 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
|
| |
| |
|
