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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, 08 February 11
PUSTAKA JAYA PALU POWER LOOKING FOR 5800 GAD COAL
COALspot.com - According to market information, PT Pustaka Jaya Palu Power, a power plant operator of the Mpanau plant, Palu, Sulawesi has invited c ...
Tuesday, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
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- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
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