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