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