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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, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
Wednesday, 27 April 11
KEWESPO CALLS FOR 765KT OF THERMAL COAL
COALspot.com - South Korea's East-West Power Co's (KEWESPO) has issued a tender to buy total 765,000 tonnes of thermal coal for delivery between J ...
Wednesday, 27 April 11
HARUM ENERGY TO PAY RP 659.1B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miner Harum Energy is planning to pay out Rp 659.1 billion (US$76.46 million) in dividends this year ...
Wednesday, 27 April 11
TSIS $5 MILLION PLANT TO START PRODUCING UPGRADED COAL - THE JAKARTA POST
The Jakartapost reported that, PT Total Sinergy International (TSI), in association with Agritrade Resources Limited of Hong Kong, will upgrade its ...
Wednesday, 27 April 11
RAIN CONSIDERS COAL MINES TAKEOVER - INSIDER STORIES
Indonesian's tenth largest coal miner in term of coal concession, PT Resource Alam Indonesia Tbk (KKGI), is considering to acquire several coalmine ...
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- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
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