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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, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
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- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
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