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