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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, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
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- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
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