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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, 12 January 10
COAL PRICE FORECAST RAISED AT ANZ ON STRONGER CHINESE DEMAND
Power-station coal price forecasts for this year were raised 19 percent by Australia & New Zealand Banking Group Ltd. on rising demand from Chin ...
Tuesday, 12 January 10
BUMIS SALE CONTRACT ONLY REACHED 35 PERCENT
PT Bumi Resources has only completed 35 percent if its coal sale contract this year. “More than 65 percent of our sale volume did not have a c ...
Monday, 11 January 10
THE MARKET IS LIKELY TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market for the first week of the year was quite active and the market especially in the Panamax and Supramax s ...
Monday, 11 January 10
CHINAS COAL EXPORT MAY DECLINE 50% IN 2009
Preliminary data released by China's General Administration of Customs (GAC) on Wednesday showed that China's coal export reached 2.05 million ton ...
Saturday, 09 January 10
THE FAR EAST MARKET STARTED TO STABILIZE - FEARNLEYS
Handy
The FEAST market started to stabilize after the quite holidays and we saw growing activity fed by Chinese coal and iron ore imports and Indi ...
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- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
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