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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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Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- Deloitte Consulting - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
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