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, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
|
|
|
Showing 3961 to 3965 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
|
| |
| |
|
