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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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Thursday, 21 October 10
WORLDS FIRST, SINGAPORE EXCHANGE TO CLEAR OTC INDONESIAN COAL SWAP - MONDOVISIONE
Mondovisione reported that, Singapore Exchange (SGX) will be the first exchange in the world to clear over-the-counter (OTC) Indonesian Sub-Bitumino ...
Thursday, 21 October 10
MEC WOOS INDIAN POWER FIRMS FOR 50% STAKE SALE - BUSINESS STANDARD
Business-Standard reported that, Singapore-based MEC Coal plans to rope in an Indian power company as a 50 per cent equity partner. It is believed t ...
Thursday, 21 October 10
CAPESIZE, A FANTASTIC WEEK WITH IMPROVED RATES IN BOTH BASINS - FEARNBULK
Handy Activity remains slow this week combined with a lack of fresh enquiry in the Atlantic. Indexes are all negative except Cape but it is worth no ...
Wednesday, 20 October 10
BLENDING OF IMPORTED COAL AT THERMAL PLANT UP TO 30 % MAY BE ALLOWED - PUNJAB NEWS LINE
Punjab News Line reported that, Indian government is considering allowing increase in the blending ratio of imported coal from 10 to 30 percent at t ...
Wednesday, 20 October 10
CANADIAN CHALLENGER ACQUIRES INDONESIAN COAL PROJECT
COALspot.com (Press Release): According to Challenger Deep Resources Corp's website and press release posted on the site, Challenger Deep Res ...
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- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
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