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