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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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Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
Sunday, 10 July 11
DRY BULK MARKET SHOWING SIGNS OF IMPROVEMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Stronger Capesize demand has helped propel the dry bulk market forward this week, with the Baltic Dry Index (BDI) ending yesterday’s session u ...
Sunday, 10 July 11
INDONESIAN BAYAN RESOURCES TO SUPPLY 100 MILLION TONS OF COAL TO INDIAN UNIVERSAL SUCCESS ENTERPRISES LIMITED
Coal miner PT Bayan Resources Tbk (BYAN), that is owned by Dato' Low Tuck Kwong, has entered into a conditional sales and purchase agreement to sup ...
Thursday, 07 July 11
BELOW 5100 COAL WILL BE BANNED FOR EXPORT BY 12 JANUARY 2014
COALspot.com - Indonesian government is in the process of drafting an amendment for government regulation 23/ 2010.
GR 23/2010 has issued to sup ...
Wednesday, 06 July 11
ATLAS RESOURCES TO OFFLOAD 17 PERCENT IPO - INSIDER STORIES
Coking and thermal coal miner PT Atlas Energi Resources aims to offload 17percent new shares of its enlarged capital after Eid-Fitri holidays, as qu ...
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- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
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