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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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Monday, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the January 2011 Indonesian Coal Reference Price for thermal ...
Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
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- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Central Electricity Authority - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
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