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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
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