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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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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
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