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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, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
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- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
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