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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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- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- The University of Queensland
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
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