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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 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
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