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.
|
|
Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
|
|
|
Showing 3951 to 3955 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- The University of Queensland
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Planning Commission, India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
|
| |
| |
|
