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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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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Planning Commission, India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Indika Energy - Indonesia
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