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