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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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Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Australian Coal Association
- The Treasury - Australian Government
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
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