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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, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
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