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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, 20 July 11
DRY BULK MARKET KEEPS ON FALLING ON SOFTENING CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated to lower ground on Tuesday, as the industry’s benchmark, the BDI (Baltic Dry Index) fell to 1,330 points, down b ...
Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
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- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- The University of Queensland
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
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