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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, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
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- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
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- Energy Link Ltd, New Zealand
- MS Steel International - UAE
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- Kumho Petrochemical, South Korea
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- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
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- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
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- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
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