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