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