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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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Thursday, 24 March 11
INDIA'S CHETTINAD INTERNATIONAL COAL TERMINAL'S PERMISSIBLE DRAFT HAS INCREASED TO 13.5 M
COALspot.com - Chettinad International Coal Terminal in Ennore port has the berth with draft 13.5 Meters now, according to E-Mail statement received ...
Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
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- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- White Energy Company Limited
- Minerals Council of Australia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
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