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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Australian Coal Association
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
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