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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 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
Monday, 21 February 11
CHURCHILL MINING RECEIVES SIGNIFICANT INTEREST, PROPOSALS TO DEVELOP EAST KUTAI COAL PROJECT - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining has received a number of specific proposals to fund and develop its massive East Kutai coa ...
Monday, 21 February 11
ABOLISH 5% DUTY ON COAL IMPORTS: SHINDE
Indian Express reported that, with acute coal shortage of domestic coal threatening to destabilise its power generation plans, the power ministry ha ...
Saturday, 19 February 11
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market was quite firm this week with freight rates in South east asia and India/Feast almost up by 30 pct.
However towards end ...
Thursday, 17 February 11
COAL-GEN EUROPE 2011 REAFFIRMS THE IMPORTANCE OF COAL
Press Release: The third COAL-GEN Europe conference and exhibition, kicked off on Tuesday 15 February, with leading experts, professionals and compa ...
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- Electricity Authority, New Zealand
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- PTC India Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
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