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