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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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Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
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- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- White Energy Company Limited
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Planning Commission, India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- The University of Queensland
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
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