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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, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
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