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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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Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- The University of Queensland
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
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