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Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Average is likely to stay around USD 10,000-15,000 per day, which keeps Capesize in the unusual situation of having rates lower than the Supramax and Panamax rates that are likely to stay firm in the USD 15,000-20,000 per day. Handysize rates are in the USD 10,000-13,000 per day interval said BIMCO’s report.
Detailing its estimates, BIMCO said that “Russia is about to lift its ban on wheat exports on 1 July – a ban which has been effective since drought and wildfires affected the Russian wheat harvest in August last year. At that time, Russia was the world’s second-largest wheat exporter, with cargoes mainly going out of the Black Sea. The lifting holds the potential of supporting dry bulk freight rates in that region should a large amount of wheat get seaborne to be discharged in EU and US where bad weather conditions have already affected the forecast for this year’s harvest negatively.
Vale has now started to operate the first of its 400,000 DWT Very Large Ore Carriers as the Vale Brasil has now been delivered (10/5-2011) from Daewoo. Her maiden voyage goes from Ponta De Madeira in Brazil to the port of Dalian in China. According to the orderbook, Vale has another 7 owned VLOCs due for delivery in 2011. A total of 35 owned and chartered 400,000 DWT VLOCs will be delivered to Vale before the end of 2013. The giant bulkers will first and foremost provide fixed transportation costs (excl.bunkers) for Vale, but the impact on Capesize freight rates from the inflow of VLOCs on the important Capesize iron ore route from Brazil to Asia is likely to be of significance to the duration of the low freight rate environment in the Capesize market which is already massively oversupplied.
The worst drought in 50 years has been haunting China – impacting e.g. the hydro-electricity power plants and raising the prospect of a lack of electricity in certain regions. Recently, heavy rainfalls have changed the situation somewhat, but the extent of the counterbalancing impact is currently unknown. Coal is a natural substitute to make up for the lack of power. China receives 19% of its energy from hydropower plants. China, the world’s largest producer and consumer of coal, imports when the price difference and quality are right. Imports of coal are, however, vital to China as its own giant reserve (the world’s 3rd largest) is set to last just 38 years at the current
production level. Currently, import prices are relatively high and thus low volumes of coal go into China. The drought situation may spur higher overall demand and thus push domestic prices higher and by that potentially restart seaborne coal imports which should support the freight markets.
Whether or not the delayed lifting of the Indian iron ore export ban from Karnataka will bring about better freight markets for Supramax and Panamax remains to be seen, especially as it has to counterbalance the monsoon season, which normally dampens Indian dry bulk activity”, said Mr. Peter Sand, BIMCO’s shipping analyst.
In terms of fleet supply, Mr. Sand mentioned that the active fleet has grown by 5.2% so far in 2011, caused by delivery of 36 million DWT, offset by as much as 9.6 million DWT being demolished. The high demolition pace experienced during Q1 has stayed strong – positively impacted by firm and high demolition prices. “We have thus revised upwards our demolition estimate significantly. As 10 million DWT has already been demolished, a new but unexpected record level of demolition is set to take place in 2011. As the new building delivery forecast is only marginally higher than previously estimated, the higher rate of demolition means that the fleet is estimated to grow a tad slower at 12.9%” said Mr. Sand.
He continued by saying that “it is equally important that owners have just ordered 10.5 million DWT of new tonnage in the first 5 months. For sure the depressed freight markets are highly supportive to this trend. Should this pace of contracting activity be representative for the full year, 2011 will become the slowest year for new building contracts in 9 years. This means more trouble to the yard industry, as it struggles with a potentially very large overcapacity in coming years as yards fail to attract enough orders to run at full utilization, despite tempting owners with a slow but still ongoing slide in newbuilding prices” concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 05 July 11
UNTR REVISES UP SALES TO 7,500 UNITS - INSIDER STORIES
PT United Tractors Tbk (UNTR), distributor of Komatsu heavy equipment and parent of PT Pamapersada Nusantara, has revised up its equipment sales tar ...
Sunday, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- The University of Queensland
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
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