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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, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
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