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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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Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
Tuesday, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
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- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
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