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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, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
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- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- The University of Queensland
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Economic Council, Georgia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
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