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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, 19 April 11
LONDON COMMODITY BROKERS OPENS JOHANNESBURG OFFICE
COALspot.com - London Commodity Brokers (LCB), a broking house specialising in bulk physical and Over-The-Counter commodities and options (coal ...
Tuesday, 19 April 11
TNPL TO CONDUCT E-AUCTION TO SECURE 160,000 MT OF COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL) a state utility of Tamil Nadu, India to conduct reverse auction on 20 April 2011, betw ...
Tuesday, 19 April 11
ADARO TO ALLOT US$100 MIO FOR COKING COAL - INSIDER STORIES
One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) plans to spend US$100 million in coking coal project dubbed IndoMet Coal, a joint ...
Tuesday, 19 April 11
KPCL TO OPEN PRICE BID ON 23 APRIL 2011 TO FINALIZE ITS ONE MILLION MT COAL SUPPLIER
COALspot.com - Karnataka Power Corporation (KPCL) a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 ...
Monday, 18 April 11
INDONESIA HAS SET THE APRIL 2011 COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.02 PER TON
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the April 2011 Indonesian Coal Reference Price for thermal coal at ...
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- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- The University of Queensland
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
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