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