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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, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
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- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
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