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