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Wednesday, 12 January 11
BULKER DELIVERIES WEIGHING IN ON FREIGHT RATES KEEPING SENTIMENT ON A NEGATIVE MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 A flurry of new buildings still hitting the water has caught up for good with the freight market, with capesizes unable to weather the storm. With rates now closing in to $10,000/day for a capesize, it’s just a matter of time before some owners at least begin considering even the option of layoffs, as the market’s downturn is such that it could simulate the conditions prevailing during the financial crisis of the final months of 2008. Of course, global dry bulk trade is far from the state it was back then, demand for goods is solid and the global economy is in a large part recovering, although at a slower than expected pace.
Still, capesize rates have kept on falling, ending yesterday down by 3.86 percent, according to the Baltic Exchange. This meand that the market for capesizes has fallen by more than 25% since Christmas Eve. “Although the Atlantic held up for a while, by the end of the month it had attracted ships from the Pacific, ensuring rates softened in both markets” said shipbroker BRS (Barry Rogliano Salles) in its weekly report. As a whole the BDI fell by 1% yesterday to reach 1,480 points a new low in more than two years. The only bright spot seems to be the Panamax market, which has continued to find support and widening its gap in terms of daily earnings from its larger counterpart, the capesize segment.
According to N. Cotzias Shipping Group, “the negative trend that was there during week 51 of 2010 continued well into 2011 and the overcapacity issue that we had repeatedly warned the markets from late 2009 is here to cause more headaches during 2011. We expect the indexes to further reduce their values at least in the larger size segments and any possible recover will be temporary and short lived. What is worth stating is that as long as the developed world markets don’t get seriously into a post –recession stage, and keep operating at idling speeds then the rest of the world and the shipping markets can’t rely solely on China to keep producing the steam for all the world. The load on China’s back is too heavy and unless there is another China… invented in 2011 we feel that the scales that measures the rise in demand for seaborne goods vs the rise in supply of new dry cargo ships will heavily tip over one side… and we all know which side of the scales is already heavily imbalanced!” said the company in its latest report.
As far as overcapacity goes, Cotzias notes that there is a total of more than 3,500 dry bulk carriers on order pending until 2014 of a total of 250mil tons dwt. “These orders are split chronologically as follows: 1854 ships are due for 2011 making up a total of 128mil dwt, 1106 ships due in 2012 of 87mil dwt and 360 ships of 30mil dwt due for 2013-2014. In total there is a massive orderbook only on the Bulkers section and we should not understate the fact that 2011 faces us with more than 55% of the total orderbook scheduled for delivery and that we should also include in this 114 orders of 4mil dwt that are “carried forward” from 2010. The outlook looks worst for Supramax size segment where the total fleet adds up to 69mil dwt tons and has more than 36mil tons to come in the next 2 years included the ships that are “brought forward” as outstanding orders from 2010 (58% possible increase in the next 2 years). The second worst size segments are the VLOC’s andthe Post Panamax sectors that have nearly as much capacity coming within the next 2 year period as the fleet sums up today (we observe a near 100% increase over the next 2 years). The Handymax size segment is looking much better as the orders here are minimal and have also a very largely over-aged fleet with more than 70% being 20 year + in age and the new building orders not exceeding 4mil tons of extra carrying capacity. The Capesize size segment is also largely on threat as the present fleet amounts to 183 tons presently with more than 69mil tons on order until 2012. This will lead to a 38% increase in the fleet that will be shocked by the addition of 25mil more in the larger Very Large Ore Carriers that will act not as a domino effect but more like the Cliffhangers that when one falls over… the weight and pressure is put on the others still hanging solidly on the cliffs to support the rest” said the shipbroker.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
Monday, 09 May 11
THAILAND COAL IMPORTS SURGE IN Q1 - ICAP SHIPPING
Thailand's coal imports leapt 20% in Q1 and the country looks set to import its largest ever volume in 2011 as quoted by ICAP Shipping web site.
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Monday, 09 May 11
KOSPO SEEKING 65KT STEAMING COAL
COALspot.com - Korea Southern Power Co (KOSPO) issues tender for 65000 Mt of Steaming Coal Supply with a minimum CV of 4,500 kcal/kg on NAR basis. D ...
Monday, 09 May 11
INDONESIA HBA FALL BELOW $118
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the May 2011 Indonesian Coal Reference Price for thermal coal at US$ 11 ...
Monday, 09 May 11
DIAN SWASTATIKA Q1 PROFIT SOARS 511 PERCENT - INSIDER STORIES
PT Dian Swastatika Sentosa Tbk (DSSA), parent of coal miner PT Golden Energy Mines, reported a 511.73% jump in net profit for the first quarter of t ...
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- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
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