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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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Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
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- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Planning Commission, India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
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