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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, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
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- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
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