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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, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
Monday, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
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- Borneo Indobara - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
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