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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, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Australian Coal Association
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
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