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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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Tuesday, 04 January 11
DRY BULK MARKET TO RANGE BETWEEN 1,700 AND 2,600 POINTS IN THE FIRST QUARTER OF 2011, ANALYSTS SAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As we entered 2011, ship owners and analysts, as well as shipbrokers are looking into their “crystal balls” to try to decode the dry bul ...
Monday, 03 January 11
TAXATION FOR COAL MINING COMPANIES IN INDONESIA - A TAX EXPERTS VIEW
COALspot.com - Mrs. Sri Wahyuni Sujono, managing partner of SF Consulting has wrote an exclusive report regarding taxation for coal mining companies ...
Sunday, 02 January 11
JAISWAL TO SEEK COAL MINES IN AFRICA - HINDUSTAN TIMES
Coal Minister Sriprakash Jaiswal will talk with his counterparts in South Africa and Mozambique during his visit from January 5 to secure coal asset ...
Saturday, 01 January 11
COAL PRODUCTION EXPECTED TO EXCEED 340 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce 340 million tons of coal in 2011, an increase of 23 percent from 275 millio ...
Friday, 31 December 10
STC TO FINALIZE 12 MILLION MT OF COAL IMPORT CONTRACT TO TWO INDIAN AND A DUBAI BASED COAL TRADER - SOURCES
COALspot.com - World's single largest coal import tender floated by STC on behalf of state utility NTPC to finalize its suppliers or already finali ...
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- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
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