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