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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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Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
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