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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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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- The University of Queensland
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
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