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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, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
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- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- CNBM International Corporation - China
- The University of Queensland
- White Energy Company Limited
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
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