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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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Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
Thursday, 10 February 11
SUPRA RATES IMPROVED A LITTLE OVER US$ 6K BSS N. CHINA DELIVERY FOR INDO-INDIA AND THAILAND ROUNDS - FEARNBULK
Handy
Atl is still weak with little fresh enquiry and an accumulation of spot tonnage.Owners are reluctant to send tonnage thru Suez due to uncert ...
Thursday, 10 February 11
BUKIT ASAM EXPECTS ABOVE RP 3 TRIO PROFIT
The state-owned coal miner PT Tambang Bukit Asam Tbk (PTBA) expects to reach 2011's net profit above Rp 3 trillion (US$ 336,322,568) from above Rp2 ...
Wednesday, 09 February 11
INDONESIA ALLOWED 60 COAL TRADING COMPANIES TO EXPORT COAL
COALspot.com - A temporary ban imposed on coal traders in January has lifted this week. As of today 60coal trading companies were allowed to resume ...
Tuesday, 08 February 11
INDIA'S SIMHAPURU TARGETS S.AFRICAN COAL - ECONOMIC TIMES
Economic Times reported that, India's Simhapuri Energy , a unit of the Madhucon Group , wants to buy new or existing collieries in South Africa fro ...
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- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
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