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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, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
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