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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, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
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- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
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