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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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Wednesday, 22 December 10
INDONESIAN COAL LOAD PORT WEATHER CONDITION AND DELAYS
COALspot.com - The several leading shipping agents in Indonesia, said due to rainy season in Indonesia, loading activities in coal loading ports hav ...
Wednesday, 22 December 10
COAL INDIA CLOSE TO BUYING 15% STAKE IN AUSTRALIAN MINE - ECONOMIC TIMES
Economic Times reported that, Coal India (CIL) is close to buying a stake between 10% to 15% in an Australian mine owned by Peabody, a US company.
...
Wednesday, 22 December 10
CAPESIZE FUTURES MARKET RATES ARE EXPECTED TO CONTINUE THEIR DRIFT DOWN IN 2011 - BRS
Nearly two months of weekly declines in the Baltic Capesize Index were finally halted last week with a small 1% increase Friday-to-Friday. The impro ...
Wednesday, 22 December 10
DRY BULK MARKET LOOKING FOR DIRECTION AMID HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market isn’t exhibiting a “festive” behavior, thus cheering ship owners and investors alike. Instead, the industry&rs ...
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
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- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- MS Steel International - UAE
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
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