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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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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
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