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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, 12 November 10
BANPU'S NET PROFIT HAS INCREASED 249 PERCENT IN 3Q 2010 COMPARED TO THE SAME PERIOD LAST YEAR
COALspot.com: Banpu Public Company Limited (BANPU) reports its financial performance for the third quarter 2010, posting a net profit of THB 13,293 ...
Friday, 12 November 10
DRY BULK MARKET STILL ON A FREEFALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market failed to show any signs of life this week, with the Baltic Dry Index (BDI) still being on the red, now stretching more than 11 ...
Thursday, 11 November 10
KOMIPO WANTS 400KT OF SUB BITUMINOUS COAL
COALspot.com : Korea Midland Power Co. Ltd. (KOMIPO) is looking for 400,000 MT of sub bituminous coal through International open bidding. The delive ...
Wednesday, 10 November 10
NTPC TO IMPORT 12 MILLION TONS OF COAL IN 2011
COALspot.com: India's State Trading Corp Ltd a public sector Govt of India co. is looking for 12 million tones (+/- 2%) of imported coal for NTPC. ...
Tuesday, 09 November 10
NOBLE GROUP APPOINTED AS THE EXCLUSIVE MARKETING AGENT FOR PT. BERAU COAL
COALspot.com: Noble Group Limited has recently been appointed as the exclusive marketing agent for PT. Berau Coal production exported to internation ...
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- White Energy Company Limited
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
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