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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, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
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