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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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Friday, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
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