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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
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- White Energy Company Limited
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
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