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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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Friday, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- White Energy Company Limited
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Planning Commission, India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
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