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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
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