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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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Friday, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
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- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- PTC India Limited - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- CNBM International Corporation - China
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
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