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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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Wednesday, 20 October 10
ADANI THE LARGEST COAL IMPORTER OF INDIA IS NEGOTIATING WITH COAL INDIA LIMITED FOR A SUPPLY AGREEMENT - TOP NEWS
Top News reported that, negotitations are very much on between Adani Enterprises, the biggest coal importer of the country and Coal India Limited, t ...
Wednesday, 20 October 10
UAE FIRM IN INDONESIA RAIL DEAL - GULF NEWS
Gulf News reported that, construction of a 140-kilometre railway in Indonesia, initiated by RAK Minerals and Metals Investments (RMMI) will start ne ...
Wednesday, 20 October 10
CAPESIZES FINDING SUPPORT IN IRON ORE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the beginning of the week wasn’t the rosiest one for the dry bulk market, last week proved a cheerful one for dry bulk ship owners, e ...
Saturday, 16 October 10
BDI WAS MARGINALLY UP BY 2.45 PCT LAST WEEK - VISTAAR SHIPPING
COALspot.com: The BDI seemed to lose the moment compared to last week and was marginally by 2.45 pct and closed at 2,762 points.
Also the Cape in ...
Friday, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
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- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
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