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