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