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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- Central Electricity Authority - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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