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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, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...
Tuesday, 11 January 11
SUPRAMAX TRIP VIA INDONESIA TO INDIA US$ 8,000 PER DAY
Despite continued growth in the bulk trades, the delivery of new vessels is beginning to take its toll. The BDI continued its decline, finishing las ...
Tuesday, 11 January 11
DRY BULK MARKET REACHES NEW LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark index, the Baltic Dry Index (BDI) lost further ground in the beginning of the week, following the trend of the ...
Monday, 10 January 11
MINING INVESTMENT TARGET TOO LOW - TEMPO INTERACTIVE
TEMPO Interactive reported that, the Indonesian Mining Association’s executive director, Priyo Pribadi, believes the government’s invest ...
Monday, 10 January 11
COAL MONGOLIA IS INVITING YOU TO THE INTERNATIONAL COAL SECTOR INVESTORS CONFERENCE
COALspot.com - (Press Release) - The Coal Mongolian Conference will take place at Chinggis Hotel, in Ulaanbaatar on 24-25, Feb 2011. The coal bonanz ...
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- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
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