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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, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Posco Energy - South Korea
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- PTC India Limited - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
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