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