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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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Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
Friday, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
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- Anglo American - United Kingdom
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
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