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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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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- White Energy Company Limited
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
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