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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, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- The Treasury - Australian Government
- PTC India Limited - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
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