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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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Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
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