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