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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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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
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- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- VISA Power Limited - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
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