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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, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- The University of Queensland
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- PTC India Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
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