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