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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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Monday, 04 January 10
TOKYO ELECTRIC SEALS XSTRATA COAL DEAL
Tokyo Electric Power Co has agreed to pay about $US85 a tonne for Australian thermal coal in 2010 from miner Xstrata, a source familiar with the pri ...
Monday, 04 January 10
IND-BARATH TO SHIFT PROJECT FROM AP TO TN
Hyderabad-based power producer Ind–Barath is planning to set up a power plant at Tuticorin, Tamil Nadu. The proposed project would attract inv ...
Sunday, 03 January 10
NEWCASTLE THERMAL COAL PRICES FALL IN FIRST DECLINE IN 3 WEEKS
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 1.5 percent, falling for the first time in three weeks ...
Sunday, 03 January 10
NTPC SEEKS REPORT ON TRANSPORTING COAL THROUGH WATERWAYS
State-run National Thermal Power Corporation (NTPC), the country’s largest power utility, has asked for a “holistic” feasibility r ...
Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
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- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
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