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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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Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...
Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...
Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...
Saturday, 09 October 10
9TH ASIA PACIFIC MINING CONFERENCE & EXHIBITION 13 14 OCTOBER 2010 AT SHANGRI-LA HOTEL, JAKARTA.
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- MS Steel International - UAE
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- PTC India Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
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