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