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Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previous week. Still, the question on most people’s lips is whether the current lull in the capesize sector will continue, or if Chinese steel mills decide to make a final push to restock in iron ore before the year ends. Yesterday, the Baltic Dry Index (BDI) was up by 0.51% to 2,179 points, while the capesize segment was practically unchanged to 2,987 points, rising by a mere four points or 0.13%.
According to shipbrokers’ reports though, Capesize and VLOC ship owners could be in for some hard times as we move forward into 2011. According to N.Cotzias’ latest weekly report, “what we saw as the most interesting pick of the week, was the continued downward return of Capes with 6 continuous downward sessions, which stopped Thursday onwards and turned positive for days, the 9 consecutive positive sessions of the Panamax size segment that turned negative on Friday we note that the Panamax sector poses a great deal of weekly volatility, we also comment on the Supramax sector that after 29 negative sessions count nine consecutive positive runs, and the Handies following closely with a very similar prolonged 34 days continual downhill run, that has already turned into an 8 day positive switch”.
But, Cotzias remains very sceptical regarding the capesize sector and specifically, whether it has found a potential “bottom”, or if it still has room to fall even further. “This negative negative momentum on the large ships has increased the uncertainty and has raised more of our concern about China’s ability to “support” all new ships that “fall in the water” every day.
On the other hand continued deliveries of so many new ships that have been added to the active fleet, is a seriously alarming problem that we feel has not been faced with the amount of seriousness and adequate severity. Many new ships almost 2 ½ ships Bulk Carriers have been delivered each day for the whole year with 11 months completed, and that ends up bringing the active fleet over 70 mil tones tallying a massive total 617 mil tones of carrying capacity. There are still pending for the remainder of 2010 (27 days!!!!) 730 ships of 16.3 mil tones that in theory have to be delivered by end of 2010” said Cotzias, highlighting the oversupply problem of the dry bulk market.
Of course it goes without saying that most of these will not and can’t be delivered later this year and will be transferred to the already strained orderbook waiting for 2011, where the expected dry cargo ships amount to 1851 ships of a total capacity of 129 mil tones. “We are of the considered opinion that there was a significant increase in the world fleet during 2010 and many more analysts feel that this influx of tonnage has “somewhat dampened” the overall positive effects of China’s growing demand. This dampening has kept the freight market to practically semi-mediocre or at the best case to well above sustainability daily levels, and had we had the same amount of tonnage instead of the +70mil dwt fleet we could have seen freight levels of 20-30% above the actual levels. Cancellations and scrapping are the only effective measures we may use against the overcapacity issues, but unless these ships cancelled or scrapped are tripled in volume, the problem will occur and we will just feel that up to now we would have swept the dust under the carpet” concluded Cotzias.
Source: Nikos Roussanoglou, Hellenic Shipping
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Saturday, 20 November 10
ITALIAN STEAM COAL MARKET HAS RECOVERED - ITALIAN COAL ASSOCIATION
Press Release - This year Italy will import 17 million tons of steam coal, up 3% from 2009, and 5.5 million tons of coking coal and PCI, up 37% over ...
Friday, 19 November 10
WE'LL THINK ABOUT COAL TOMORROW - ANALYSIS
The future of coal generation in Russia is in question. The largest energy companies have abandoned their initial plans to switch their therma ...
Friday, 19 November 10
DRY BULK MARKET ON THE ROPES WITH BDI PLUNGING TO 2,164 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the panamax markets suffering the most this week, but a ray of hope for the capesize market, which appears to be stabilizing after days of fall ...
Thursday, 18 November 10
WORLD COAL ASSOCIATION WELCOMES NEW CHAIRMAN & SHENHUA GROUP AS NEW MEMBER 17 NOVEMBER 2010
Press Release – The premier global coal industry association marks its 25th anniversary with a new Chairman and welcomes China’s lar ...
Thursday, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
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- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
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