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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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Wednesday, 30 December 09
INDIA CEMENTS TO FINALIZE 3 SHIPMENTS OF SOUTH AFRICAN COAL NEXT WEEK
COALspot.com (India): India Cements is looking for 3 shipments (150,000MT) of South African coal for January – March 2010 delivery on C ...
Wednesday, 30 December 09
BANPU EXPECTS STABLE COAL PRICES
2009 revenue growth will be hard to beat
Banpu Plc, Asean's largest coal miner, expects coal prices to stay firm at about US$80 per tonne in the f ...
Wednesday, 30 December 09
CIL DELISTS JAGUAR ENERGY FOR KODA LINKS
Coal India Ltd (CIL) has dropped Indonesia-based Jaguar Energy & Power Ltd from the list of companies, it intended to forge partnerships with to ...
Wednesday, 30 December 09
COAL PRICE RISE REQUEST DENIED
A proposal by the Viet Nam National Coal and Mineral Industries Group to double the price of coal has been turned down by the Ministry of Industry a ...
Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
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- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Australian Coal Association
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
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