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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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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Planning Commission, India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
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