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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, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
Sunday, 10 April 11
SOFT FREIGHT MARKET TREND LIKELY TO BE CONTINUED - VISTAAR SHIPPING
COALspot.com - The freight market continued to soften further with the BDI breaking the 1,500 points and closing at 1376 points down by almost 10 pc ...
Thursday, 07 April 11
HANDY RATES SLIDING NOW - FEARNBULK
Handy
Slowly softening rates as more tonnage is accumulating in the Atlantic basin.The trans-Atlantic round is around $15k pd with trips to ...
Thursday, 07 April 11
DRY BULK MARKET PLUNGING EVEN FURTHER ON LOW CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its falling pattern this week, with every day proving to be painful for ship owners, especially those of the large ...
Thursday, 07 April 11
INDIKA BUYS MITRABAHTERA AT US$ 0.183
PT Indika Energy Tbk (INDY), integrated energy company, today has exercised an option agreement to acquire 51% shareholding in newly listed coal tug ...
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- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Mercator Lines Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
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