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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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Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal c ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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Showing 5526 to 5530 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
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