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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
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