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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Australian Coal Association
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Planning Commission, India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
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