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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, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
Sunday, 06 December 09
NEW MANGALORE PORT GETS UPCL'S FIRST COAL PARCEL FROM INDONESIA
The Lanco Group-promoted Udupi Power Corporation Ltd (UPCL) has received the first parcel of imported coal from Indonesia at the New Mangalore Port. ...
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- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- White Energy Company Limited
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
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