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.
|
|
Monday, 03 February 14
API 8 CFR SOUTH CHINA COAL SWAP CONTRACTS FALL
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.71 percent month on month and closed at US$ 78.87 per mt as on Frid ...
Monday, 03 February 14
COAL FREIGHT RATES REMAIN UNDER PRESSURE
COALspot.com: The BDI is fell 50 pct over last one month which seems to be one of the lowest fall in last few years.
The BDI was down by 11 ...
Friday, 31 January 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 19.2 MMST W-O-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in ...
Friday, 31 January 14
DRY BULK MARKET STILL ON A FALL, EXPECTED TO WORSEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is definitely in the doldrums since the start of the year, in what could only be described as a "lost" month for indus ...
Thursday, 30 January 14
JPU SETTLEMENT PRICE AS A BENCHMARK WILL DECLINE IN IMPORTANCE BUT REMAIN RELEVANT, SAYS WOOD MACKENZIE
JPU price will remain above spot, trending closer to spot till 2015 then increasing to 2035.
Japanese Power Utilities (JPU) are approaching a cru ...
|
|
|
Showing 3871 to 3875 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
|
| |
| |
|
