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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Planning Commission, India
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
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