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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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Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
Thursday, 30 September 10
INDONESIAN COAL FOR POWER PLANT - LANKA GAZETTE
Lanka Gazette reported that, A cargo vessel with coal on board to generate electricity for the Norochcholai Coal Power Plant will arrive in Sri Lank ...
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- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Trasteel International SA, Italy
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
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