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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previous week. Still, the question on most people’s lips is whether the current lull in the capesize sector will continue, or if Chinese steel mills decide to make a final push to restock in iron ore before the year ends. Yesterday, the Baltic Dry Index (BDI) was up by 0.51% to 2,179 points, while the capesize segment was practically unchanged to 2,987 points, rising by a mere four points or 0.13%.
According to shipbrokers’ reports though, Capesize and VLOC ship owners could be in for some hard times as we move forward into 2011. According to N.Cotzias’ latest weekly report, “what we saw as the most interesting pick of the week, was the continued downward return of Capes with 6 continuous downward sessions, which stopped Thursday onwards and turned positive for days, the 9 consecutive positive sessions of the Panamax size segment that turned negative on Friday we note that the Panamax sector poses a great deal of weekly volatility, we also comment on the Supramax sector that after 29 negative sessions count nine consecutive positive runs, and the Handies following closely with a very similar prolonged 34 days continual downhill run, that has already turned into an 8 day positive switch”.
But, Cotzias remains very sceptical regarding the capesize sector and specifically, whether it has found a potential “bottom”, or if it still has room to fall even further. “This negative negative momentum on the large ships has increased the uncertainty and has raised more of our concern about China’s ability to “support” all new ships that “fall in the water” every day.
On the other hand continued deliveries of so many new ships that have been added to the active fleet, is a seriously alarming problem that we feel has not been faced with the amount of seriousness and adequate severity. Many new ships almost 2 ½ ships Bulk Carriers have been delivered each day for the whole year with 11 months completed, and that ends up bringing the active fleet over 70 mil tones tallying a massive total 617 mil tones of carrying capacity. There are still pending for the remainder of 2010 (27 days!!!!) 730 ships of 16.3 mil tones that in theory have to be delivered by end of 2010” said Cotzias, highlighting the oversupply problem of the dry bulk market.
Of course it goes without saying that most of these will not and can’t be delivered later this year and will be transferred to the already strained orderbook waiting for 2011, where the expected dry cargo ships amount to 1851 ships of a total capacity of 129 mil tones. “We are of the considered opinion that there was a significant increase in the world fleet during 2010 and many more analysts feel that this influx of tonnage has “somewhat dampened” the overall positive effects of China’s growing demand. This dampening has kept the freight market to practically semi-mediocre or at the best case to well above sustainability daily levels, and had we had the same amount of tonnage instead of the +70mil dwt fleet we could have seen freight levels of 20-30% above the actual levels. Cancellations and scrapping are the only effective measures we may use against the overcapacity issues, but unless these ships cancelled or scrapped are tripled in volume, the problem will occur and we will just feel that up to now we would have swept the dust under the carpet” concluded Cotzias.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
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