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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, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
...
Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Parliament of New Zealand
- Minerals Council of Australia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- McConnell Dowell - Australia
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