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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, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
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