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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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Saturday, 09 October 10
SAIL SEEKS LONG-TERM COKING COAL SUPPLY FROM GLOBAL COMPANIES - BUSINESS STANDARD
State-owned Steel Authority of India (SAIL) Friday invited bids from global companies for long-term supply of coking coal to feed its expanding stee ...
Friday, 08 October 10
INVESTORS STILL RELUCTANT TO ENTER DOWNSTREAM INDUSTRIES - THE JAKARTA POST
The Jakarta Post reported that, mining companies are showing a low level of enthusiasm to enter the downstream industries, as required by the 2009 M ...
Friday, 08 October 10
VESSEL OWNERS ARE RELUCTANT FOR INDONESIA TO INDIA COAL TRIPS - FEARNBULK
Handy
Last week ended with a flourish of activity as the Chinese tried to fix any prompt vessels before the Golden week festivities, and since the ...
Thursday, 07 October 10
MIRACH ENERGY GAINS RIGHTS TO EAST KALIMANTAN COAL MINE - THE EDGE SINGAPORE
The Edge Singapore reported that, Mirach Energy says it has gained the rights to produce and sell coal in an open-pit coal mine in Samarinda, the ca ...
Tuesday, 05 October 10
EWP SEEKING VIETNAMS ANTHRACITE COAL
COALspot.com: South Korea’s EWP is seeking Min 200,000MT of Vietnam coal with plus or minus 30,000MT at EWP’s (Korea East West Power Co ...
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- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- PTC India Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
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