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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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Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
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- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Australian Coal Association
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Planning Commission, India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
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