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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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Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...
Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...
Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...
Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...
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- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- The University of Queensland
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
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