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