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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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Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Australian Coal Association
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
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