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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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Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...
Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017
Tehelka reported that, CESC Ltd, the fla ...
Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy
Not much fresh enquiry this week and quite dead in Bl.Sea/Med. Nevertheless ...
Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...
Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...
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- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
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