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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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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Australian Coal Association
- Anglo American - United Kingdom
- Planning Commission, India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
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