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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, 17 December 09
THE 6TH CLEAN ENERGY FORUM - CLEAN COAL 2010
COALspot.com (China) - Press Release: The 6th Clean Energy Forum--Clean Coal 2010 January 27-29, 2010 Renaissance Tianjin Teda Hotel And Conven ...
Thursday, 17 December 09
JFE STEEL INVESTS $555 MILLION IN AUSTRALIA COAL MINE
JFE Steel Corp., Japan’s second- largest producer, will invest 50 billion yen ($555 million) in a coal mine in Queensland, Australia, includin ...
Thursday, 17 December 09
CHINA, INDIA DEMAND MAY BOOST THERMAL COAL PRICE, JPMORGAN SAYS
Demand for thermal coal from China and India may boost prices of the fuel to $80 a metric ton next year amid reduced supplies and lower inventories, ...
Thursday, 17 December 09
RBCT PROBLEMS TO CAUSE STEAM COAL PRICE SPIKE IN Q1
Bugs in the new computer system at South Africa's Richards Bay Coal Terminal and persistent rail problems will make it impossible for exporters to ...
Thursday, 17 December 09
CIL TO IMPORT 4 MILLION TONNES COAL FOR NTPC
The country's largest coal miner Coal India Ltd (CIL) will import 4 million tonnes of coal for state-run power company NTPC.
"Earlier, ther ...
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- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Australian Coal Association
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
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