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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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Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
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- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- VISA Power Limited - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
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