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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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Thursday, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- Siam City Cement - Thailand
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
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