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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
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