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