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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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- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
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