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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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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
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