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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, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
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- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
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