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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, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
Sunday, 21 November 10
THE FREIGHT MARKET MAY SLIGHTLY FIRM UP NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market continued its down fall with BDI down by 6.83 pct and closed at 2,155 points.
According to Vistaar Shipping of S ...
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- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Australian Coal Association
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
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