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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
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