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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, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a produc ...
Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
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- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
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