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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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Saturday, 26 March 11
FLSMIDTH WINS MULTIMILLION DOLLAR MATERIAL HANDLING PROJECT IN INDONESIA
FLSmidth has signed a contract in Jakarta worth in excess of USD 135m (DKK 700m) with PT Adaro Indonesia, a subsidiary of PT Adaro Energy Tbk., to s ...
Saturday, 26 March 11
ADARO AIMS TO DOUBLE COAL PRODUCTION -THE JAKARTA POST
The Jakarta Post reported that, coal producer PT Adaro Indonesia is planning to soon boost its production capacity to 80 million tons annually, almo ...
Friday, 25 March 11
KNOWLEDGE INFRASTRUCTURE TO BAG 160,000 MT COAL SUPPLY ORDER FROM TNPL
COALspot.com - Delhi based Knowledge infrastructure Systems Pvt. Ltd offered lowest price of US$ 97.10 per metric ton for calorific value of 6000 GA ...
Friday, 25 March 11
THE CAPESIZE MARKET CONTINUED TO FALL - FEARNBULK
Handy
The Atlantic market remains stable with more activity from the Black Sea to Feast paying in the mid 20´s on supras.
The USG remain ...
Friday, 25 March 11
BORNEO ENERGI FY10 NET INCOME SOARS - INSIDER STORIES
Coking coal producer PT Borneo Lumbung Energi Tbk (BORN) booked a skyrocket net income by 499.72% from net loss position in 2009, as quoted by Insid ...
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- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
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