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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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Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
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- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- The University of Queensland
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
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