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