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