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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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Monday, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Indika Energy - Indonesia
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