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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, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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Showing 6226 to 6230 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
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