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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, 16 December 10
LANCO BAGS AUSTRALIAN COAL MINER GRIFFITH - DNA
As part of its strategy to secure coal supplies for meeting its needs in expanding power generation capacities, infrastructure major Lanco Infratech ...
Thursday, 16 December 10
COAL INDIA IN TALKS WITH INDONESIAN CO TO BUY ITS COAL MINES - APN NEWS
APN News reported that, World’s largest coal producer Coal India is in talks with Indonesia’s Sinar Mas Group for acquiring coal mines i ...
Wednesday, 15 December 10
GOVT SETS NEW MINIMUM LEVEL FOR DOMESTIC MARKET SALES - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal producers are required to sell at least 24.17 percent of their production to the domestic market nex ...
Wednesday, 15 December 10
CAPESIZE RATES ARE NOW AT THEIR LOWEST LEVEL SINCE AUGUST
It was a repeat performance for the market this week, with another increase in earnings for the small sizes but a sharp drop for the Capes. Overall ...
Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
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- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
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