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Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
 BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average rates will be in the range of USD 3,000-9,000 per day. Panamax T/C average rates will stay around USD 5,000-9,000 per day. For the Supramax segment, BIMCO forecasts freight rates in the range of USD 6,000-9,000 per day, whereas Handysize freight rates are expected around USD 5,000-7,500 per day.
Delivering its outlook on the market, BIMCO noted that “India was the beam of sunlight in an otherwise dark coal market in 2014. Going forward more support could come from India. In China, the question that has been unanswered for a long time is will the lower and lower international iron ore price (-47% in 2014 and still falling some 15% in 2015) favour imports and eventually lead to largescale shutdown of inefficient low-quality Chinese iron ore mines? The jury is still out on that one. Facts are as follows: in 2014, the amount of domestically mined iron ore was up by 4.3% while the iron ore quality of the same went down from an estimated Fe-content of 21% in 2013 to 17% in 2014. Meanwhile iron ore imports with a Fe-content of 62% went up by 13.7% in 2014 from a year earlier”.
BIMCO added “will it become reality or remain a dream – and to what effect will it matter to the Capesize market? Australian exporters won the battle in 2014, much to the regret of the freight market. BIMCO expects that they will not let go of the lead, at the expense of long-haul shipping demand from Brazil. All mining majors have expansion plans in place for 2015 and 2016, and yet another Aussie, the new Roy Hill iron ore mine, will join them towards the end of 2015. The site is set for 55 million tonnes a year once fully operational”.
Meanwhile, as it notes, “Q2 is the peak season for South American exports of soya. Volumes will go higher to the primary benefit of Panamax and Supramax; whether freight rates will follow suit remains to be seen, as too many ships being in position for the season will cap the upside, just as we saw last year. For the Capesizes to find support, the seasonality must kick in here too. Iron ore exports from both Australia and Brazil are expected to increase as we move further into the year. Overall, iron ore volumes are expected to be higher for the full year, though not as strong as in 2014 where several factors moved in a positive direction. Russian wheat exports are on course to beat last season’s volume. However, exports from July to January have been strong enough to have already eclipsed last year’s total, so it seems that more troubles lie ahead for the already reeling Black Sea market as Russian export restrictions kick in”.
Supply
Meanwhile, in terms of supply, “demolition of dry bulk tonnage was relatively modest for a long time when considering the fundamental conditions of the freight market. However, recent extremely poor freight markets have stirred it up. At the end of February, 68 ships with a combined capacity of 5 million DWT had been demolished since the turn of year, out of which half were of Capesize capacity with an average age of 21 years. This compares to the 27 years average age of the Handysizes going for recycling. The tough trades of the Capesizes cut their commercial life shorter than that of Handysizes. The extremely low earnings has pushed more ships out of the market. The youngest ships being recycled overall were a pair of Panamaxes built in 1998, followed by five Capesizes built in 1996. At the other end of the scale, 20 Handysizes built between 1980 and 1985 were recycled. During the first two months of 2015, 11 million DWT of new dry bulk capacity were delivered into the active fleet. As BIMCO expected, we have seen the majority being newbuilt Supramaxes whereas the delivery pace of Panamax is now coming slightly down. 54 Handymaxes/Supramaxes have already been delivered by the end of February. This compares to 199 for the full year of 2014 [40,000-67,000 DWT].
In the Panamax segment, just 22 ships have been delivered by end-February, as compared to 160 ships (4.6% in annual fleet growth) for the full year of 2014 [67,000-100,000 DWT]. For 2015 as a whole, Panamax deliveries are estimated to go as high as 150 ships (3.3% in annual fleet growth). The troubles in the freight markets have for once also been seen in the order book where interest for new contracts has been subdued. The overall order book dropped to 158.2 million DWT from 168.6 three months ago. It remains an imperative for a sustainable freight market recovery that new contracts remain scarce for an extended amount of time. Fortunately, the newbuilding prices offered by the shipyards are still 10-15% above the lowest of 2012-2013 and are not seen as very attractive”, BIMCO concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
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- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
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