We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the back of low seasonal demand. As a result, freight rates fell across the board, although the Handysize market is still close to a three-year high. In its latest report on the market, issued yesterday, BIMCO said that it believes that "the level of Capesize TC average rates will remain and stay around USD 4,500-10,000 per day. Panamax TC average rates will stay in the region of USD 5,000-11,000 per day. For the Supramax segment, BIMCO forecasts freight rates in the USD 7,000-11,000 per day interval, whereas Handysize rates are expected to stay strong in the region of USD 7,000-9,500 per day".
In his outlook on the market, BIMCO's Chief Shipping Analyst, Mr. Peter Sand noted that "as Q4-2013 was a massively strong quarter, the seasonal slowdown in Q1-2014 is likely to weigh a bit heavier than normally on freight rates. A drop of 8.8% in selected commodity volumes represent a clear seasonal direction in Q1, but if we look a bit further into the remaining three quarters, they all provide a solid rebound in demand. Chinese iron ore imports especially, but also the dry bulk market in general, is trailing off around the Chinese New Year season" he stated.
According to the report, "demand will be lower than in undisrupted months and thermal coal demand begins to ease as the Winter season in the northern hemisphere loses its grip. General shipping of nickel ore and bauxite will be far below normal levels because of the Indonesian ban– this in itself represents a change in demand beyond seasonality. Similar to the trend forecast in BIMCO Reflections 2014, demand will be centred on the major commodities. That trend has already affected Capesize rates in the most brutal way, as earnings have now entered into the sub-USD 10,000 per day zone; a decline of some 75% since early December".
Meanwhile, "in all the other segments volatility is more subdued, and over- and undershooting (up or down) seen to a lesser extent. At the end of January, Handysize tonnage is still earning in excess of USD 10,000 per day on a T/C average. This is a three-year high.
Q1 holds little room for upside, with most focus being on weather related disruptions in e.g. Australia to intrude on normal trading as well as regulatory issues affecting not just Indonesian exports but Columbian coal exports and Indian exports/imports in general, e.g. via export duties. As demand in volumes grew by 5.4% in 2013, the fundamental market balance only improved if slow steaming was applied more extensively. BIMCO believes that was the case, but only marginally. For 2014, an improvement in the market balance is clearly achievable. For it to materialise, owners and operators need to apply slow steaming to at least the same extent as last year. Only by managing the supply side carefully will higher earnings follow in the wake", it was noted.
Supply
In terms of supply, which is equally if not even more crucial to the long term viability of the industry, BIMCO said that "the demolition side of shipping will be amongst the “ones to watch” in 2014. As the order book keeps building up and eventually brings around more newbuild tonnage to cater for demand, owners might consider taking advantage of the strong demolition prices currently available to let go of less efficient ships.
In 2013, 22.2 million DWT was demolished, mostly in the smaller segments. This was 50% below the level of 2012 but considered a strong number, one that is unlikely to be repeated this year. The average age of a scrapped Capesize was 24, whereas the average demolished Handysize vessel was 30 years of age. Going forward, try to consider this as a potential scenario: the current stock of dry bulk shipping capacity equals 728 million DWT. All ships built in 1993 or earlier comprise just 68 million DWT, which is less than 10%. In comparison, taking out all ships beyond the average scrapping age in recent years (29 years), comprises just 20 million DWT. History tells us that is unlikely to happen, especially in a rising market. Thus, BIMCO forecasts 14 million DWT (or 1.9% of the current fleet) will be demolished in 2014. The fleet grew by 40 million DWT net in 2013, equal to 5.9%. BIMCO forecasts that 2014 holds 47 million DWT of newbuild capacity in store, which will be offset by 14 million DWT, leaving the fleet to bring supply growth of 4.5% around. Such a growth rate denotes an 11-year low. 2015 is already set for higher growth rates, so 2014 represents a short temporary dampening of the high growth of the fleet", it was mentioned.
"As regards the orderbook, the number of new Panamax orders has been extremely slim, in 2013 accounting for just 16% of the capacity ordered. This is a clear counterbalancing statement by the industry in response to the high fleet growth seen in that segment in the previous 15 months. Despite new orders for 197 Capesizes and 80 million DWT in total, the size of the dry bulk fleet today means that the orderbook-to-fleet ratio in the Capesize segment and total dry bulk fleet lands at just 20.5% and 20.7% respectively", the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
Tuesday, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
|
|
|
Showing 3751 to 3755 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
|
| |
| |
|
