Tue Sep 6, 2011
SINGAPORE, Sept 6 (Reuters) - China's COSCO Group, the country's top shipping conglomerate, was not holding talks with Vale over the sale of the Brazilian miner's mega dry bulk carriers, a COSCO official told Reuters on Tuesday.
"I never heard about this. I don't think the COSCO head office has had any official talks with Vale in the form of meetings or teleconference as far as I know," said the COSCO official, who wished not to be named because he is not authorized to speak to the media on the subject.
A Vale official told Reuters on Monday the mining giant was in talks with Chinese and other shipowners to sell or lease its planned fleet of giant bulk carriers.
COSCO Chairman Wei Jiafu told Reuters last November that it was not interested when initially approached by Vale to be a partner in the project.
Showing posts with label shippers. Show all posts
Showing posts with label shippers. Show all posts
Tuesday, September 6, 2011
Saturday, August 20, 2011
China Shipowners Association fears Vale control of freight market
August20, 2011
Zhang Shouguo, executive vice chairman of the China Shipowners Association (CSA), has stated in an interview with Bloomberg that Brazilian mining giant Vale is seeking to control the freight market just as it controls the iron ore market.
Vale is currently building up a fleet of 19 400,000-dwt vessels for iron ore transportation, while it will rent a further 16 vessels for the same purpose. Mr. Zhang said that Vale should leave responsibility for freight to the shipping companies. He also said that with its new fleet Vale would completely control iron ore shipments between China and Brazil. (sourced steelorbis)
Zhang Shouguo, executive vice chairman of the China Shipowners Association (CSA), has stated in an interview with Bloomberg that Brazilian mining giant Vale is seeking to control the freight market just as it controls the iron ore market.
Vale is currently building up a fleet of 19 400,000-dwt vessels for iron ore transportation, while it will rent a further 16 vessels for the same purpose. Mr. Zhang said that Vale should leave responsibility for freight to the shipping companies. He also said that with its new fleet Vale would completely control iron ore shipments between China and Brazil. (sourced steelorbis)
Friday, July 29, 2011
China shippers lobby to foil Vale ore fleet
Friday, 29 Jul 2011
Bloomberg reported that China largest shipping companies are lobbying the government to foil Vale SA plan to build a USD 2.3 billion fleet of the world biggest iron ore carriers that will haul the steelmaking material to the nation.
Mr Zhang Shouguo executive vice chairman of the China Shipowners Association said Vale, the world largest iron ore producer, should engage the shipping companies to run the fleet. Rio de Janeiro based Vale is building 19 of the 400,000 tonnes vessels and will control another 16 under long term contracts aiming to stabilize freight costs and iron ore prices.
Mr Zhang who was a former deputy director of the water transport division of China Ministry of Transport said “Let the shipping industry do the transport thing. Vale is seeking to control the freight market as it has done with iron ore prices.”
Mr Zhang said Chinese regulators haven’t approved any of its ports to increase accommodation capability to more than 300,000 dead weight tons for dry bulk carriers because of safety and environmental concerns.
He said that “Many shipping companies may incur losses because of the monopoly on the route. We’ve made it clear to the government that we object to the major cargo owners building their own fleets.”
Mr Zhang said without elaborating that the association which represents 85% of China total shipping capacity is trying to seek cooperative shipping contracts with Vale. Should the need arise, it may also ask the government to investigate whether Vale breached the Chinese regulations against market manipulation or monopoly.
A Vale official in Rio de Janeiro, declining to be named according to corporate policies said the company won’t comment.
(Sourced from Bloomberg)
Bloomberg reported that China largest shipping companies are lobbying the government to foil Vale SA plan to build a USD 2.3 billion fleet of the world biggest iron ore carriers that will haul the steelmaking material to the nation.
Mr Zhang Shouguo executive vice chairman of the China Shipowners Association said Vale, the world largest iron ore producer, should engage the shipping companies to run the fleet. Rio de Janeiro based Vale is building 19 of the 400,000 tonnes vessels and will control another 16 under long term contracts aiming to stabilize freight costs and iron ore prices.
Mr Zhang who was a former deputy director of the water transport division of China Ministry of Transport said “Let the shipping industry do the transport thing. Vale is seeking to control the freight market as it has done with iron ore prices.”
Mr Zhang said Chinese regulators haven’t approved any of its ports to increase accommodation capability to more than 300,000 dead weight tons for dry bulk carriers because of safety and environmental concerns.
He said that “Many shipping companies may incur losses because of the monopoly on the route. We’ve made it clear to the government that we object to the major cargo owners building their own fleets.”
Mr Zhang said without elaborating that the association which represents 85% of China total shipping capacity is trying to seek cooperative shipping contracts with Vale. Should the need arise, it may also ask the government to investigate whether Vale breached the Chinese regulations against market manipulation or monopoly.
A Vale official in Rio de Janeiro, declining to be named according to corporate policies said the company won’t comment.
(Sourced from Bloomberg)
Friday, March 11, 2011
All Japanese ports shut after huge quake - shippers
Fri Mar 11, 2011 8:52am GMT
SINGAPORE, March 11 (Reuters) - All Japanese ports have closed, with discharging operations halted, after the country was hit on Friday by an 8.9 magnitude quake and tsunami, shippers said.
The biggest earthquake to hit Japan in 140 years struck the northeast coast, triggering a 10-metre tsunami that swept away everything in its path, including houses, cars and farm buildings on fires.
"It's a big mess. All discharge operations are suspended in the area," said a shipbroker.
TV footage showed at least one large panamax vessel, which typically carries 80,000 tonnes of coal, iron ore and grains, grounded in northern Japan due to the tsunami, a second Tokyo-based shipbroker said.
"Most or all coal stocks will be washed out at many of the coal fired power plants," he said.
"Ports will be closed at least for a short time period until damage assessments can take place."
Shipbrokers expected freight rates to rise in the short-term as Japanese power plants restock their coal inventories and steel companies import more iron ore as part of the rebuilding process.
A tsunami warning has been extended to the whole of the Pacific basin, except for mainland United States and Canada, following the earthquake in Japan, NOAA's National Weather Service said on Friday.
The warning includes Mexico and Central and South American countries on the Pacific, NOAA's Pacific Tsunami Warning Center said. (Reporting by Randy Fabi and Luke Pachymuthu Editing by Ed Lane,Thomson Reuters)
The biggest earthquake to hit Japan in 140 years struck the northeast coast, triggering a 10-metre tsunami that swept away everything in its path, including houses, cars and farm buildings on fires.
"It's a big mess. All discharge operations are suspended in the area," said a shipbroker.
TV footage showed at least one large panamax vessel, which typically carries 80,000 tonnes of coal, iron ore and grains, grounded in northern Japan due to the tsunami, a second Tokyo-based shipbroker said.
"Most or all coal stocks will be washed out at many of the coal fired power plants," he said.
"Ports will be closed at least for a short time period until damage assessments can take place."
Shipbrokers expected freight rates to rise in the short-term as Japanese power plants restock their coal inventories and steel companies import more iron ore as part of the rebuilding process.
A tsunami warning has been extended to the whole of the Pacific basin, except for mainland United States and Canada, following the earthquake in Japan, NOAA's National Weather Service said on Friday.
The warning includes Mexico and Central and South American countries on the Pacific, NOAA's Pacific Tsunami Warning Center said. (Reporting by Randy Fabi and Luke Pachymuthu Editing by Ed Lane,Thomson Reuters)
Sunday, February 6, 2011
THE FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PANAMAX & SUPRAMAX PER DAY RESPECTIVELY
Sunday, 06 February 11
With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to last week and was down by about 8 pct and closed at 1,043 points. It will be interesting to see if the BDI will go below 1,000 points. But seems the BDI has almost bottomed out and may not go down much.
The Cape index also was down by about 5 pct and closed at 1,299 points, with the average charter rate at all time low at US$ 5,161 per day. The Panamax index was almost steady and was up just by about 1 pct and closed at 1,348 points. Supramax and Handy size index was also down by about 10 pct and closed at 1,090 points and 643 points respectively.
The cyclonic weather in Queensland and shippers declaring force majeure the situation has added to the market woes. The situation is expected to return to normal in about a week time.
The average charter rates was at Cape/US$ 5,161 per day , Panamax/US$ 10,786 per day , Supramax/US$ 11,398 per day and Handy size/US$ 9,422 per day.
The Supramax index in the feast (S6 route) was down by US$ 404 per day (down by 5.23 pct) and closed at US$ 7,310 per day (last week US$ 7,714 per day). The EC India/ China (S7 route) was down by 128 points (up by 1.11 pct) and closed at US$ 11,370 per day (last week US$ 11,498 per day). The S6 route is likely to be steady/soft next week.
According to Vistaar singapore, the futures for three years (2011-2013) was at around Cape/US$ 20,000 per day, Panamax/US$ 16,500 per day, Supramax/US$ 15,000 per day , Handy size/US$ 10,750 per day.
The congestion in EC Australia was almost same at 107 vessels this week (last week 106 vessels). The vessels waiting at main coal loading ports were at Hay point/17, DBCT/33, Gladstone/10, Abbot Point/2, New Castle/39, Port Kembla/4 vessels. On the WC Australia iron ore vessels waiting increased to 45 vessels (last week 31 vessels).
The waiting at Indian ports for coal vessels was quite normal except for Paradip, Haldia, Kandla where the berthing delays was high with berthing delays of about 10/12 days.
The crude prices firmed up mainly due to Egyptian crisis and Brent crude prices was at US$ 100.12 per barrel (last week US$ 99.31 per barrel). Bunker prices also firmed up sharply and was at US$ 582.00 pmt (last week US$ 552.00 pmt) for IFO 380 cst ex Singapore on 4th Feb 2011.
Reported by Vistaar Shipping, Singapore
If you believe an article violates your rights or the rights of others, please contact us.
With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to last week and was down by about 8 pct and closed at 1,043 points. It will be interesting to see if the BDI will go below 1,000 points. But seems the BDI has almost bottomed out and may not go down much.
The Cape index also was down by about 5 pct and closed at 1,299 points, with the average charter rate at all time low at US$ 5,161 per day. The Panamax index was almost steady and was up just by about 1 pct and closed at 1,348 points. Supramax and Handy size index was also down by about 10 pct and closed at 1,090 points and 643 points respectively.
The cyclonic weather in Queensland and shippers declaring force majeure the situation has added to the market woes. The situation is expected to return to normal in about a week time.
The average charter rates was at Cape/US$ 5,161 per day , Panamax/US$ 10,786 per day , Supramax/US$ 11,398 per day and Handy size/US$ 9,422 per day.
The Supramax index in the feast (S6 route) was down by US$ 404 per day (down by 5.23 pct) and closed at US$ 7,310 per day (last week US$ 7,714 per day). The EC India/ China (S7 route) was down by 128 points (up by 1.11 pct) and closed at US$ 11,370 per day (last week US$ 11,498 per day). The S6 route is likely to be steady/soft next week.
According to Vistaar singapore, the futures for three years (2011-2013) was at around Cape/US$ 20,000 per day, Panamax/US$ 16,500 per day, Supramax/US$ 15,000 per day , Handy size/US$ 10,750 per day.
The congestion in EC Australia was almost same at 107 vessels this week (last week 106 vessels). The vessels waiting at main coal loading ports were at Hay point/17, DBCT/33, Gladstone/10, Abbot Point/2, New Castle/39, Port Kembla/4 vessels. On the WC Australia iron ore vessels waiting increased to 45 vessels (last week 31 vessels).
The waiting at Indian ports for coal vessels was quite normal except for Paradip, Haldia, Kandla where the berthing delays was high with berthing delays of about 10/12 days.
The crude prices firmed up mainly due to Egyptian crisis and Brent crude prices was at US$ 100.12 per barrel (last week US$ 99.31 per barrel). Bunker prices also firmed up sharply and was at US$ 582.00 pmt (last week US$ 552.00 pmt) for IFO 380 cst ex Singapore on 4th Feb 2011.
Reported by Vistaar Shipping, Singapore
If you believe an article violates your rights or the rights of others, please contact us.
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