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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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Monday, 23 August 10
NOBLE RESOURCES AND PAN ASIA INK MAJOR COAL DEAL
Pan Asia Corporation Limited has, via Innovation West Pty Ltd, entered into a binding coal purchase & finance agreement with Noble Resources Pte ...
Monday, 23 August 10
THE FREIGHT MARKET IS EXPECTED TO BE FIRM FOR NEXT COUPLE OF WEEKS - VISTAAR SINGAPORE
COALspot.com: The BDI continued to rise this week by 11.67 pct with the other sectors also keeping the moment. The cape size index also was up by 11 ...
Friday, 20 August 10
JAKARTA TO HOST 9TH ASIA PACIFIC MINING CONFERENCE AND EXHIBITION IN OCTOBER
ASEAN Federation of Mining Association (AFMA), an association of mining groups in Southeast Asia, will hold the 9th Asia Pacific Mining Conference a ...
Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has ...
Friday, 20 August 10
POWER COS SEEK MINING PARTNERS TO BID FOR 1,920-MW PROJECT
"A joint venture between the Maharashtra and Tamil Nadu governments for a pit-head power project, has been allotted the biggest coal block yet ...
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- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
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