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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, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Georgia Ports Authority, United States
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
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