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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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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Australian Coal Association
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
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